The top headline in the Wall Street Journal .<\/p>\n\n\n\n
More Oil Is Now Coming Out of the Persian Gulf Than Before the Iran War<\/a><\/strong><\/p>\n\n\n\n Persian Gulf oil exports have surpassed prewar levels, as an improvised shipping system under U.S. protection is helping tankers move oil through one of Iran<\/a>\u2019s fiercest waves of attacks in the Strait of Hormuz.<\/p>\n\n\n\n Middle East oil flows, including shipments through Hormuz and alternative routes across the region, averaged more than 24 million barrels a day in the week through Oct. 18, surpassing prewar levels of 23.3 million, according to ship tracker Kpler. <\/p>\n\n\n\n Preliminary figures show Hormuz oil flows, including offshore transfers in the Gulf of Oman, came to around 14 million barrels a day on average for the same period, or 82% of prewar levels.<\/p>\n\n\n\n Oil prices remain high, and benchmark Brent crude has risen in recent days to around $108 a barrel Tuesday. Traders are concerned the improvement in Hormuz might not be sustainable, particularly if fighting breaks out again. Thinning global inventories leave little margin for error. The operation is also expensive, costs that ultimately flow through to consumers at the pump.<\/p>\n\n\n\n Still, the resilience of oil flows marks a shift in the battle over the world\u2019s most important energy chokepoint. Iran can still make shipments dangerous and expensive. But its ability to deter transits has faded, weakening Tehran\u2019s leverage with the U.S.<\/p>\n","protected":false},"excerpt":{"rendered":" The top headline in the Wall Street Journal . More Oil Is Now Coming Out of the Persian Gulf Than Before the Iran War Persian Gulf oil exports have surpassed prewar levels, as an improvised shipping system under U.S. protection is helping tankers move oil through one of Iran\u2019s fiercest waves of attacks in the … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,18,9],"tags":[],"class_list":["post-17559","post","type-post","status-publish","format-standard","hentry","category-economics-and-politics","category-international-stuff","category-investing-and-business"],"_links":{"self":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/17559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17559"}],"version-history":[{"count":2,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/17559\/revisions"}],"predecessor-version":[{"id":17561,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/17559\/revisions\/17561"}],"wp:attachment":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}