{
  "id": 10614095,
  "title": "Oil Extends Rally Despite Higher Hormuz Volume Reports",
  "url": "https://urgent.news/2026/09/29/oil-extends-rally-despite-higher-hormuz-volume-reports",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-29T05:19:50.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Latest-Energy-News/World-News/Oil-Extends-Rally-Despite-Higher-Hormuz-Volume-Reports.html"
  },
  "original_language": "en",
  "account": "Crude oil prices continued their upward trend on Tuesday, despite reports indicating that oil flows through the Strait of Hormuz have significantly improved since the beginning of September. As of now, Brent crude is trading at $107.37 per barrel, while West Texas Intermediate is priced at $94.31 per barrel. This price gap has been fueled by the potential U.S. ban on diesel fuel exports.\n\nAccording to Kpler's estimates, approximately 12.8 million barrels of oil were flowing out of Hormuz daily, which is considerably higher than most people anticipated. However, the data does not include tankers operating in \"dark mode\" or those engaged in ship-to-ship transfers. To circumvent the energy infrastructure damage caused by Yemeni Houthis, Saudi Arabia has resorted to ship-to-ship transfers, negatively impacting the cost-efficiency of moving crude out of the Persian Gulf.\n\nKCM Trade's Tim Waterer remarked that a clearer picture is surfacing, with higher oil export volumes leaving the Gulf, but much of this growth still depends on workarounds like ship-to-ship transfers. These methods are less efficient and costlier than conventional operations, explaining why crude prices remain elevated. Tanker rates are at record highs as well, adding to the export cost burden and vessel availability issues, as ship-to-ship transfers require more of these vessels. Maritime traffic is also being redirected from the Red Sea to the Cape of Good Hope, resulting in longer journeys for tankers.",
  "summary": "Crude oil prices extended a climb that began on Monday, despite reports that oil flows via the Strait of Hormuz have improved considerably since the start of September. At the time of writing, Brent crude was trading at $107.37 per barrel, and West Texas Intermediate was trading at $94.31 per barrel. The widening gap between the two has been driven by reports about a possible U.S. ban on diesel…",
  "key_points": [
    "Brent crude at $107.37 per barrel, West Texas Intermediate at $94.31 per barrel",
    "12.8 million barrels of oil flowing out of Hormuz daily, higher than expected",
    "Ship-to-ship transfers increasing costs, affecting crude export efficiency"
  ],
  "editors_take": "Oil prices remain high as workarounds like ship-to-ship transfers and dark mode operations add costs and inefficiencies, offsetting increased volumes through the Strait of Hormuz.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}