Hormuz Oil Flows Recover, but Prices Remain High Amid Conflict Uncertainty

Oil flows through the Strait of Hormuz have recovered significantly, rising to nearly 80% of pre-war levels. According to Kpler data cited by CNN, oil and petroleum-product flows averaged around 13.1 million barrels per day last week.

The recovery is attributed to Gulf producers relying on US Navy-supported tanker movements, ship-to-ship transfers, and 'dark' transits, where vessels switch off their automatic identification systems.

However, Brent crude futures remain above $103 a barrel, while US West Texas Intermediate crude lost 0.14 to $89.24.