Oil prices ease slightly as G7 and Middle East crude supplies set to hit market
Oil prices saw a modest decline as fresh shipments from the Middle East hit the market. The G7's move to tap into emergency reserves reflects growing energy apprehensions. Nevertheless, the crude oil market stays turbulent, as conflicts in the Gulf region persist. Notably, Yemen's Saudi-backed government has initiated a military operation against the Houthis, further complicating the situation.…
Crude oil exports from the Middle East have surpassed pre-war levels for four days in the final week of September, according to provisional data from ship-tracking firm Kpler. Notably, this rise occurred despite ongoing attacks on vessels passing through the Strait of Hormuz, with at least seven incidents reported. Crude exports from the region hit between 19.5 million barrels per day and 22.5 million bpd during September 24-29, and averaged 18 million bpd between March 2025 and February 2025.
The 7-day moving average for crude exports stood at 18.5 million bpd on October 1. LNG exports through the Strait of Hormuz also saw a rise, reaching its highest monthly level since February. However, despite these higher exports, the overall tally for crude, oil products, chemicals, and non-gas liquids averaged 22.4 million bpd in the seven days to September 30.
Brief written by urgent.news from Investing.com's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
