Iran Gets US Response as Gulf Oil Exports Near Prewar Levels

A formal US response to Iran's proposal to end the seven-month war has been received by Tehran, according to Iranian officials. This comes as Gulf oil exports are nearing prewar levels through alternate routes and a US-protected passage through the Strait of Hormuz.

The data firm Kpler reported that about 21.8 million barrels a day of crude and fuel products made from crude are being shipped weekly on average, against a prewar baseline of 23.3 million barrels a day.

Oil and fuel exports from the Gulf have moved closer to prewar levels with the help of alternate routes and a US-protected passage through the Strait of Hormuz, according to Kpler.