Financial Times reported that Middle East oil exports, despite continued attacks on ships in the Strait of Hormuz, have reached their highest level since the start of the war on 9 Esfand 1404.

Citing data from Kpler, the newspaper wrote that the average daily exports of Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, Kuwait, and Iraq in September reached 15.5 million barrels, which is more than 80% of the pre-war level.

Financial Times attributed the main drivers of this growth to increased use of shuttle oil transfers from Hormuz and alternative routes, and wrote that the revival of exports could weaken the Islamic Republic’s leverage in negotiations with the United States.

The newspaper noted that Saudi Arabia’s oil exports in September more than doubled, reaching 6.9 million barrels per day.

However, the increase in exports has not yet curbed oil prices, and Brent has risen to above $100. Financial Times added that security risks have also increased transport costs, and the daily charter rate for supertankers to pass through Hormuz has reached a record of $1.2 million per day.