Key facts
- Middle East crude exports recovered to over 81% of pre-war levels in September.
- At least seven incidents involving tankers reported in the past week.
- About 40% of oil exports now bypass the Strait of Hormuz.
- Brent crude fell 0.75% to $99.57 a barrel on Tuesday.
Oil exports from the Gulf have significantly resumed in recent days, with Kpler reporting that flows, excluding Iran, recovered to more than 81% of pre-war levels in September. Maritime intelligence firm Kpler estimated that Middle East crude exports reached 18.3 million barrels per day on September 30, while Vortexa estimated 14-day average exports at 18.6 million bpd. However, these increased flows occur amid a surge in attacks on tankers. The United Kingdom Maritime Trade Operations agency has reported at least one attack daily in the Strait of Hormuz or Gulf of Aden since October 2. On Tuesday, 12 crew members on a Panama-flagged tanker were injured in an attack. Shipping operators are braving these risks, leading to skyrocketing transportation costs.