Iran Is Losing Some of Its Leverage Over the Strait of Hormuz - Crude Oil Prices Today | OilPrice.com

The flow of crude from the Persian Gulf has recovered to near-prewar levels, but the latest data shows that much of the oil is reaching markets through routes and shipping arrangements that did not exist before the war, raising the question of whether Iran is losing its leverage in the Strait of Hormuz. At least 16.5 million barrels per day of crude left the region between September 1 and 28, matching the prewar average when Iran is excluded, according to commodity analytics firm Kpler. But while crude levels have risen, the refinery bottleneck that has caused a global spike in diesel prices persists. European Union figures published on October 1 showed diesel pump prices at record levels. Prices have also surged in the United States despite the recovery in oil exports. The route, meanwhile, has changed dramatically.