Daily oil flows from the Persian Gulf have plummeted to 8.5 million barrels, a sharp decline from the 20 million barrels recorded just two weeks ago, according to Kpler data. This rapid deterioration follows a wave of targeted strikes on vessels navigating the vital waterway, effectively reversing recent recovery trends in regional exports.
Brent Climbs Past $110 as Persian Gulf Tanker Attacks Surge
Eighteen tanker attacks in the Strait of Hormuz over the past fortnight have shattered regional supply stability, driving Brent crude to five-month highs. As Iranian strikes and Houthi infrastructure assaults intensify, the market is aggressively pricing in a war premium that has slashed daily oil exports by more than half.
ING commodity analysts Warren Patterson and Ewa Manthey observe that the market remains hypersensitive to Middle Eastern volatility. While robust flows previously kept prices in check, the current escalation—compounded by Houthi strikes on Saudi energy infrastructure and airports—has stripped away confidence in supply security. Traders are increasingly bracing for sustained disruption, signaling that the current price support is unlikely to dissipate until the security situation in the Strait of Hormuz stabilizes.
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