Oil shipments from the Persian Gulf region have climbed above levels seen before the war with Iran, despite continued attacks on tankers. According to shipping tracker, Kpler, Middle East oil flows averaged more than 24 million barrels a day last week, compared to 23.3 million before the war. More oil is moving through pipelines and alternate shipping routes, while tankers continue crossing the Strait of Hormuz under U.S. protection. However, the cost of moving that oil remains high with freight rates and war-risk insurance surging.
