العربية

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Business

Hormuz transits at lowest in over two months after attacks, data shows

Transits through the Strait of Hormuz have dropped to the lowest level in over two months, with only seven vessels passing through recently amid increased attacks on tankers, according to shipping data. Crude oil crossings fell by 27 percent from the previous week, now at 10.1 million barrels per day, while exports from the Gulf of Oman and the Red Sea rose significantly, compensating for the reduced supply through Hormuz.

Arab News

Business

IEA to accelerate oil reserve release, says 100 million barrels still to come

By Kate Abnett and Holger HansenBRUSSELS, Oct 7 (Reuters) - The International Energy Agency agreed on Wednesday to accelerate the release of oil stocks and to prioritise diesel supplies under a plan launched in March, as governments seek to tackle record fuel prices and supply disruptions caused by the Iran war.Wars in Iran and Ukraine have damaged refineries and disrupted tanker traffic, helping drive diesel prices to record highs in many markets and turning the fuel into a major political and economic concern worldwide.

Al-Monitor

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