Oil flows out of the Persian Gulf in October nearly returned to levels seen before the Iran war began. Traders remain wary about a fragile recovery, and Brent crude stood at $108.82 a barrel on Wednesday.
Oil flows out of the Persian Gulf in October nearly returned to levels seen before the start of the Iran war, but traders remain wary about a fragile recovery.
Total crude exports from Iran, Iraq, Kuwait, Qatar, Saudi Arabia, the United Arab Emirates and Oman recently recovered to within 10% of their previous levels in January and February, according to TankerTrackers.com, a maritime intelligence firm that tracks crude oil shipments.
However, global Brent crude was at $108.82 a barrel on Wednesday as news reports suggested the potential for fresh hostilities in the Persian Gulf conflict.
Source: MarketWatch (snippet-based)
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