Gulf Oil Exports Recover as Hormuz Shipping Struggles

Global oil markets are beginning to recover from the Iran war, but shipping through the Strait of Hormuz remains severely disrupted, with vessel traffic roughly 65% below pre-conflict levels and tanker attacks continuing across the region.

Separate reports released Friday by the International Energy Agency (IEA) and UK Maritime Trade Operations (UKMTO) highlight the uneven recovery in energy trade nearly nine months after the conflict began.

The IEA said global oil supplies are on track to exceed demand by 1.7 million barrels per day in the fourth quarter, reversing its previous forecast of a deficit as Persian