Oil prices close without major fluctuations despite Middle East exports
According to data from Kpler, Middle East exports—including alternative routes bypassing the Strait of Hormuz—exceeded 24 million barrels per day during the week ending Oct. 18, compared to 23.3 million barrels per day before the war.
Oil prices closed Wednesday virtually unchanged, as strong performance in hydrocarbon exports from the Middle East contrasted with new attacks in the region.
The price of a barrel of North Sea Brent crude, for December delivery, fell just 0.03% to $108.79.
Its U.S. counterpart, the West Texas Intermediate (WTI) barrel for delivery in the same month—which made its debut as a benchmark contract on Wednesday—fell 0.69% to $97.15.
World
State Department orders diplomats to leave Saudi Arabia, reduces staff in rest of Gulf region due to Houthi attacks
Emmanuel Alejandro Rondón
According to data from Kpler, Middle Eastern exports—including alternative routes bypassing the Strait of Hormuz—exceeded 24 million barrels per day during the week ending Oct. 18, compared to 23.3 million barrels per day before the war.
On Wednesday, explosions were heard in the southeastern Iranian province of Hormozgan, which borders the Strait of Hormuz, according to a state-run media outlet.
The situation also remains very tense in Saudi Arabia, which has been the target of nearly daily attacks by pro-Iranian Houthis from Yemen for several weeks.
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