Hormuz crude flows return to pre-war levels, yet oil may still stay at $90-$100 | Here's why
New Delhi, Oct. 2 -- Crude oil is once again moving through the Strait of Hormuz at roughly pre-war levels as US military escorts have boosted shipments and pipelines have redirected flows.
As per data published by Kpler, a firm that tracks tankers and global trade flows, Crude transiting Hormuz reached a seven-day average of 13.5 million barrels per day as of Monday, which matches a prewar baseline for shipments through the strait
In fact, sometimes crude oil shipments from the Middle East, including the Persian Gulf and the Red Sea, are even higher than prewar levels. "The region reached a seven-day average of 19.5 million bpd as of Monday, surpassing a prewar baseline of about 17 million bpd."
Yet the return of crude flows through H...
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