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Market move● Neutral for Indian equities
Crude oil exports through the Strait of Hormuz hit prewar levels, but fuel shipments remain constrained
The brief
- Crude oil exports through the Strait of Hormuz have recovered to prewar levels
- The recovery’s durability is unclear and relies on U.S. military protection for tankers
- Hormuz supply risks matter to Indian refiners and oil marketing companies
- ‘Economic war’: Is Iran losing its leverage over the Strait of Hormuz?
- GE Shipping rides high freight rates, builds cash for the next cycle
- Iraq turns to Syria for gasoline as Strait of Hormuz closure disrupts fuel supplies
- Jaishankar Warns Of 'Major Food Crisis' In Coming Months Amid Disrupted Grain Shipments, Fertilizers Shortage, Super El Nino
- Iran issues new threat against Gulf oil trade
Middle East oil flows recover amid shipping risks
Saudi Arabia resumed exports through its East-West pipeline after repairs, helping Middle East crude flows recover to 98% of pre-war levels. Strait of Hormuz crude exports also reached pre-war levels, though shipping risks persist and the recovery’s durability is unclear.
Wednesday, 30 September
- Crude oil exports through the Strait of Hormuz hit prewar levels, but fuel shipments remain constrained