WS #15290
The G7's agreement to release strategic petroleum reserves is actively dampening the bearish signal from Iran's collapsing oil exports. Despite the geopolitical threat, Kpler data confirms that Middle East crude exports have exceeded pre-war levels as Gulf states reroute shipments, preventing a physical shortage. However, Brent crude remains stubbornly above $100 due to the persistent risk premium associated with the Strait of Hormuz and the anticipated drawdown of Western reserves.
Oil Supply Paradox and G7 Intervention
The G7's agreement to release strategic petroleum reserves is actively dampening the bearish signal from Iran's collapsing oil exports. Despite the geopolitical threat, Kpler data confirms that Middle East crude exports have exceeded pre-war levels as Gulf states reroute shipments, preventing a physical shortage. However, Brent crude remains stubbornly above $100 due to the persistent risk premium associated with the Strait of Hormuz and the anticipated drawdown of Western reserves.