Hormuz Flows Recover, Brent Crude Hits $107 Amid US Export Ban Speculation

Crude oil prices continued their upward momentum into Tuesday, with Brent crude trading at $107.37 per barrel and West Texas Intermediate at $94.31 per barrel.

The growing gap between Brent and WTI has been attributed to speculation surrounding a potential United States ban on diesel fuel exports, which has added a premium to the international marker.

Kpler reported that daily oil flows out of the Strait of Hormuz had reached 12.8 million barrels, exceeding expectations held by most market observers.

The data suggests that despite recent Houthi attacks on key energy infrastructure in Saudi Arabia, the kingdom has adapted its crude export logistics through ship-to-ship transfers and other workarounds.