Middle East Oil Flows Thwart Global Price Hikes Amid Ongoing Tensions

Oil flows from Middle Eastern producers have maintained their pace despite ongoing tensions in the region. Tankers are ferrying crude through the Strait of Hormuz undetected to transfer barrels onto vessels in the Gulf of Oman, people familiar with the shipments said.

The clandestine trade has continued unabated, despite recent attacks on vessels, and is helping keep a lid on global oil prices. This comes as the Iran war continues to drag on, sparking fears of an energy-driven inflation spike.