The Newshound

Gulf oil exports climb back to 81% of pre-war rate but Hormuz tanker risks keep traders on edge

From the Newshound archive · first published 6 October 2026.

Middle East oil exports hit 92% of pre-war levels by late September, even as producers paid up to $40 million per voyage and sailors two to three times normal wages to brave ongoing attacks in the strait.
Middle East oil exports hit 92% of pre-war levels by late September, even as producers paid up to $40 million per voyage and sailors two to three times normal wages to brave ongoing attacks in the strait.

Persian Gulf producers are shipping significantly more oil than at the height of the Iran war disruption, with flows averaging 81% of pre-war levels in September as Kuwait, Iraq and Saudi Arabia all push to rebuild market share. Saudi Aramco slashed the price of its Arab Light grade for Asian buyers to a six-year low, helping drag Brent crude to around $101 a barrel after a 2% fall on Monday. Kuwait is pumping at roughly 75% of pre-war output while Iraq is hiring additional tankers to move cargo through the Strait of Hormuz despite continued risks.

Saudi-backed forces seized the Red Sea port of Mocha from Iran-backed Houthis, pushing toward the Bab el-Mandeb chokepoint that controls Saudi export routes.

The G7 and partners are releasing emergency stockpiles to ease supply pressure, while Ukrainian strikes on Russian refineries keep fuel product markets particularly tight.

Energy consultancy Market Risk Advisory warns 'concerns on supply persist, making it difficult for the market to hold short positions for long'.

MoreIrish TimesOil steadies as Persian Gulf exports riseReutersOil slips as Mideast exports, G7 stockpile ease supply concernsReutersOil, fuel supply buffers are thinning as Middle East conflict continues, Chevron CEO saysReutersGulf oil flows rise to average 81% of pre-war rate in September, data shows
Read today's full feed at The Newshound →