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Commodities

Oil Prices Stabilize Amid Persian Gulf Tensions

Guavy AI Editorial Team
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Oil
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Oil prices have stabilized above $95/bbl amid escalating tensions in the Persian Gulf, but may lose traction if Strait of Hormuz flows continue uninterrupted.

Iraq's oil exports picked up significantly in August, reaching a total of 2.35 million barrels per day (b/d), with around 2.26 million b/d exported from southern routes that pass through the sensitive strait.

Refined product markets remain tight, particularly for middle distillates such as diesel and jet fuel, which saw inventories fall by 118 thousand tons in the ARA region to 4.15 million tons.

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