Oil is trading lower following reports suggesting that Middle East oil exports have risen above pre-war level.

More Oil, No Relief: Why Hormuz’s Supply Rebound Won’t Lower Prices

Persian Gulf crude exports recover to 80% of pre-war levels, but high costs keep oil stuck above $100. Get the latest market breakdown

Trump Wants to Keep America’s Diesel at Home: It's Having a Strange Effect on Oil Prices

The gap between Brent and WTI crude hit its widest since May as Trump's diesel export ban talk hit US refiners.

Oil is trading higher after Chinese refiners suspended October fuel exports, adding to the global refined products shortage as the Middle East conflict continues to tighten supplies. Also, the U.S. may send a third aircraft carrier strike group as President Trump mulls over additional attacks on Iran after the midterm elections.

Yemen's Houthis Appear To Have Struck Saudi Aramco Oil Refinery At Rabigh On Saudi Arabia's Red Sea Coast, With New Satellite Imagery Today Showing A Black Smoke Plume Roughly 80 Km Trailing Away From Site And The Fire Centred On The Oil Storage Tanks And Pressurised Storage Vessels

https://x.com/HormuzLetter/status/2107188573384372686?s=20

Treasury Secretary Scott Bessent Posts On X "Operation Economic Outcast is delivering results: the rial has plunged to record lows, Iran loaded zero crude oil onto tankers last month, and even Iran’s top security official has admitted the country is facing one of the most difficult periods in its history..."

https://x.com/SecScottBessent/status/2107175410651877459?s=46&t=dtUiyC3dUs5yGRgT9qYHWg

U.S. Embassy Riyadh Posts On X "Due to the ongoing security situation in Saudi Arabia and the potential for aerial drone or missile attacks on Saudi Arabia, the U.S. Mission strongly encourages all U.S. citizens to remain vigilant and follow the guidance of national alerts released by Saudi Arabia’s Civil Defense."

https://x.com/USAinKSA/status/2107170386655707475?s=46&t=dtUiyC3dUs5yGRgT9qYHWg