Oil: Resumption of Exports via the Strait of Hormuz Amid Iranian Tensions

Iran now requires ships to obtain authorization to pass through the Strait of Hormuz, with non-compliant vessels risking attacks, but more tankers are crossing the strait under US escort. Oil flows from non-Iranian sources through the strait reached 13.5 million barrels per day in September, matching pre-war levels. The resumption of Saudi Arabia's exports is supported by the reopening of the East-West pipeline to Yanbu, with at least ten tankers leaving for Europe and France. Iranian oil exports remain constrained by a US-imposed naval blockade.