Dark tanker crossings lift Gulf oil flows to two-thirds of pre-war levels

  • Tankers continued covert Gulf oil shipments by disabling their transponder signals.
  • 15 million to 16 million barrels per day was Goldman Sachs' Gulf export estimate.
  • Reuters calculations put June-to-August dark shipments at least 500 million barrels.

Clandestine tanker voyages through and around the Strait of Hormuz have helped Gulf oil exports recover to roughly two-thirds of their pre-war levels, although estimates differ widely because vessels are sailing without transponder signals. Goldman Sachs estimated total Gulf exports, including these dark crossings, at 15 million to 16 million barrels per day, while Vortexa put August exports at 15 million barrels per day, still 10 million barrels per day below pre-war volumes. The uncertainty has added to the risk premium in international oil prices: Brent futures rose above $100 per barrel on Wednesday for the first time since July, while U.S. diesel prices reached a record high the previous week. The flows include crude from Iraq, Kuwait, Qatar, Saudi Arabia and the United Arab Emirates, and Reuters calculations indicate that at least 500 million barrels worth $40 billion moved through covert shipments from June to August.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.