Middle East spot crude oil prices fall, Strait transportation remains unobstructed
2026-10-23 15:48:39
CoinMeta data: Recently, the prices of some Middle Eastern spot crude oils have fallen. Despite the threat of attacks, producers and global traders have become more adept at transporting goods through the Strait of Hormuz. Asian refiners have revealed that the number of quotes for spot crude oil has increased in recent days, with sellers offering their goods at more competitive prices. A shipload of Iraqi Basra medium-quality crude oil was sold via ship-to-ship transshipment in the Gulf of Oman, outside the Strait of Hormuz, at a price nearly $10 per barrel lower than the Dubai crude oil spot benchmark. Brent crude oil futures contracts are expected to see three consecutive weekly increases, with prices reaching their highest level since May on Friday. Warren Patterson, head of commodity strategy at ING Group, stated that although the flow of oil transportation in the Middle East region remains stable for now, there are concerns in the market about whether this stability can be maintained if attacks occur again.
Source:Jin10 Data
This content is for market information only and does not constitute investment advice.
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