US military protection and shipping routes along Oman's coast have helped Gulf producers move more oil despite Iranian attacks. Kpler's latest seven-day average for flows through the Strait of Hormuz reached 14.19 million BPD, compared with a prewar baseline of 17.13 million BPD. Those figures cover the strait rather than all regional export routes. Rory Johnston estimates the cost of getting barrels out through Hormuz at $30 to $40 or more a barrel, excluding US military costs.
Brent crude settled 2.56% lower at $102.59 a barrel on Sept. 29 as Middle Eastern crude flows recovered. US crude fell 3.48% to $89.38, dropping below $90 for the first time in three weeks.