Oil is now flowing out of the Persian Gulf like before the Iran war. Why prices may still not come down anytime soon.

Oil exports from the Gulf have surpassed levels seen before the US-Israeli war on Iran began on 28 February. According to data from energy analytics firm Kpler released by Middle East Eye, Gulf countries exported 24.6 million barrels per day in the week ending 18 October, exceeding the prewar level of 23.3 million barrels per day. MarketWatch reports that while flows in October have nearly returned to levels seen before the Iran war, traders are wary of a fragile recovery.

This surge in exports occurs alongside an increase in attacks on vessels in the Strait of Hormuz. Middle East Eye reports that the United Kingdom Maritime Trade Operations recorded at least 12 attacks last week. Additionally, a UAE-owned container ship, fully laden, sank in the Strait of Hormuz last week after likely being hit by a projectile.

Brief written by urgent.news from MarketWatch, Middle East Eye — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.