OppHub America Desk · · Source: oilprice-main
Brent Tumbles to $96 as Gulf Oil Flows Bounce Back
Energy & climate policy: Lease, export, , and subsidy shifts move energy equities fast.
Based on reporting from oilprice-main.
Crude oil prices moved markedly lower on Wednesday and stayed there earlier today, after booking a solid jump for September. The decline came in response to reports from JP Morgan, Goldman, and Kpler, suggesting oil flows out of the Persian Gulf had virtually returned to pre-war levels.
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Crude oil prices moved markedly lower on Wednesday and stayed there earlier today, after booking a solid jump for September. The decline came in response to reports from JP Morgan, Goldman, and Kpler, suggesting oil flows out of the Persian Gulf had virtually returned to pre-war levels. At the time of writing, Brent crude was trading at $97.36, down from over $103 per barrel yesterday, and West Texas Intermediate was trading at $89.57 per barrel, down from over $90 per barrel. Earlier in the week, Kpler reported oil export figures close to 80% of pre-war levels for Hormuz, while JP Morgan said it estimates oil exports via the chokepoint as high as 98% of pre-war levels. Goldman trumped both, claiming oil flows out of the Middle East at 23.3 million barrels daily, which is the same rate as the average for 2025.
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Based on reporting from oilprice-main.
Informational and educational only — not investment, financial, or legal advice. Disclosure
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