Oil supply gap persists despite rerouting and weaker demand
The IEA says Gulf oil exports remain constrained, partly offset by bypass routes, other producers and reduced demand.
Source finding
Its 18 September analysis puts August Hormuz flows at 7.6 million barrels per day, 13.1 million below pre-war levels.
Our analysis
The duration of the disruption matters for diesel, freight and inflation more than a single day of crude trading.
What remains uncertain
IEA balances include estimates and provisional data; future route access and inventories are uncertain.