Brent crude prices reached $110 during the pipeline shutdown earlier this month but have since declined as exports climbed. Trade intelligence firm Kpler data shows this volume surge persists despite escalated fighting with Iran-backed militants. The increased traffic has now exhausted all available slots for ship-to-ship oil transfers in the Gulf of Oman, creating a regional logistical bottleneck.
Tuesday, October 20, 2026
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Saudi Crude Exports Hit 6M Barrels Daily Highest Since Iran War Began
Commodities24 days ago
A new shipping route along Oman's coast secured by the United States has enabled Saudi Arabia to increase crude oil shipments by nearly 80% in September. This shift follows a drone attack that knocked the East-West oil pipeline offline, forcing Riyadh to divert vessels through the Strait of Hormuz to maintain export volumes. The kingdom is currently exporting 6 million barrels per day, a recovery to the monthly average of 2025 and the highest level since the war with Iran began seven months ago.
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