Hormuz Blockade Eases: Gulf Oil Exports Rebound to Pre-War Levels

Gulf oil exports have rebounded to pre-war levels after months of disruption caused by tensions in the Strait of Hormuz, according to a commodity-tracking platform.

The average daily crude flows through the waterway from Gulf countries and Iraq were around 13.5 million barrels between September 22 and 28, equivalent to pre-war levels, Kpler reported.

TotalEnergies CEO Patrick Pouyanne said that 'there are more players ready to try to get out of the Strait of Hormuz and succeed.'

The resumption of traffic comes as negotiations have restarted between Washington and Tehran focused on restoring freedom of navigation in the strait, but Iran still claims control over the waterway and ships without its authorisation risk coming under attack.