Oil shipments from the Gulf region dropped to an average of 8.5 million barrels per day.
Sea-news.az reports that this was stated by the Belgium-based analytical company Kpler.
It is reported that oil shipments from the region fell to a daily average of 8.5 million barrels last week, compared to 20 million barrels in the preceding week.
According to the data, at least 10 incidents involving commercial vessels were recorded in the region over the past week.
Experts suggest there are indications of further escalating tensions in the Middle East. Egypt stated its readiness to provide Saudi Arabia with necessary support to maintain security and stability in the fight against Houthi rebels.
Additionally, oil prices declined after US President Donald Trump suspended certain sanctions and tariffs against Russia, raising expectations that Russian fuel exports could increase.
Under an agreement reached between Trump and Russian President Vladimir Putin, Russia is expected to begin exporting diesel fuel to the US and other countries. According to the US President, shipments are planned to start at approximately 2.3 million barrels this month and scale up to 7.6 million barrels per month.
Amid concerns that Middle East tensions and security risks to maritime shipping could constrain global oil supplies, Brent crude oil prices briefly crossed $110 on Friday, reaching their highest level since May 19.
According to analysts, a softer stance on sanctions and profit-taking following recent developments capped oil price gains. Although Russian fuel exports could increase, uncertainties remain. Until the scope and duration of these measures become clear, it will be difficult for markets to price in a permanent rise in supply.
