Gulf oil exporters topped pre-war levels for about half of September, shipping data showed on Monday, though attacks on tankers and logistical constraints cloud the outlook for sustained higher flows.
asserted
attacks → top → flows
Ships transiting the Strait of Hormuz face a “heightened and increasingly unpredictable kinetic threat” given the recent sharp increase in traffic, Marisks, a shipping intelligence service, said on Saturday.
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Marisks → transit → Saturday
The seven-day moving average for crude exports from the region was 18.3 million barrels per day on Sept. 30, provisional data from Kpler showed, with volumes topping pre-war levels on 14 days in September.
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volumes → move → September
That included Gulf oil sent Hormuz, via the Red Sea, and from terminals and ship-to-ship transfers in the Gulf of Oman.
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That → include → Oman
Shipments had earlier matched or exceeded pre-war levels on a handful of days in June and July, Kpler data showed, after Washington and Tehran reached a memorandum of understanding that has since lapsed.
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that → match → understanding
Crude exports from the region averaged about 18 million bpdin the 12 months before the start of the US-Israeli war with Iran, according to Kpler.
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exports → average → Kpler
The recent export surge has been driven by Saudi Arabia loading from both the Red Sea and the Gulf, three weeks after a Sept. 10 attack on its East-West pipeline, Kpler said.
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Kpler → drive → pipeline
It has required more supertankers to shuttle crude through Hormuz, trade sources and analysts have said, adding that ship-to-ship transfers in the Gulf of Oman have reached their limits.
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transfers → require → limits
Iraq’s state-owned Oil Tanker Company and some refiners have chartered tankers to load Basrah crude inside the strait after Baghdad secured Iranian permission in August for Iraqi oil tankers to pass through Hormuz.
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tankers → own → Hormuz
Shipping data provider Vortexa also said Gulf flows have recovered.
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flows → say → ?
It said that the 14-day moving average for Middle East crude and condensate exports hit 18.6 million bpd, exceeding the 10-year seasonal average and returning to pre-conflict levels.
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average → say → levels
“Most of this month-over-month increase seen in September comes from Saudi Arabia, which is ramping up exports to regain market share from other Middle Eastern countries,” senior market analyst Xavier Tang said.
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Tang → see → countries
“This increase in Middle East supplies will also help alleviate tightness in the oil market, especially for Asian refiners,” he said.
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he → help → refiners
Liquefied natural gas cargoes exiting the Strait of Hormuz also rose in September to their highest since February.
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cargoes → exit → February
However, attacks on tankers continued, with at least seven incidents reported in the past week, Marisks said, noting the very large crude carrier (VLCC) Kazimah III was struck on Oct. 1 by an unknown projectile while in the strait, causing a fire onboard.
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carrier → continue → fire
Its owner, Kuwait Oil Tanker Company, did not respond to a request for comment.
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owner → respond → comment
Marisks said on Monday that the Liberian-flagged Aframax tanker Lipsi was struck by an unknown projectile on Oct. 4 while transiting northeast of Jazirat Um Al Fayarin, Oman, in the Strait of Hormuz, damaging its engine room.
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tanker → say → room
Dynacom, its manager, did not immediately respond to a request for comment.
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Dynacom → respond → comment
The crew aboard both tankers were reported safe, with no casualties reported, Marisks said.
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Marisks → report → tankers
The United Kingdom Maritime Trade Operations agency has reported at least one attack a day in the Strait of Hormuz or the Gulf of Aden since Oct. 2.
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agency → report → Oct.
Marisks said “the recent pattern of incidents may not necessarily represent deliberate targeting of individually selected merchant vessels.
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pattern → say → vessels
“Instead, available information indicates the possibility that Iranian forces are launching missiles into a predetermined engagement area or ‘kill box,’ with weapons potentially acquiring and locking onto available radar signatures within that area.
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weapons → indicate → area
Before the Iran war started on Feb. 28, the strait typically handled about 125 large commercial vessels per day, including tankers, gas carriers, bulkers and container vessels, accounting for some 20% of global crude and LNG supply.
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strait → start → supply
The Aporia
