Persian Gulf Oil Exports Rebound, Keeping Prices Below $90

Oil exports from the Persian Gulf have increased to roughly two-thirds of pre-war levels, according to Goldman Sachs analysts. This is approximately 15 million to 16 million barrels per day, a significant jump from 5 million to 6 million barrels per day in March.

The improved flow has helped keep oil prices below $90 even if the Iran war continues, with Brent crude oil dipping slightly to $88.22 a barrel and West Texas Intermediate falling to $83.27 a barrel on Friday.

However, experts caution that there's still very little room for error, as the market is running a deficit and most of the world's spare production capacity sits in the region and is at risk.