Oil exports from the Middle East back to pre-war levels, but prices are not falling: "Background of new escalation"

Oil exports from the Middle East have returned to pre-war levels, averaging 17.3 million barrels per day. Despite this, oil prices remain high due to transport delays and fears of escalation following the U.S. midterm elections. The U.S. military has facilitated the safe passage of over 3,000 vessels through the Strait of Hormuz, while new shipping routes and pipelines have been established. However, logistical challenges and geopolitical tensions continue to drive prices up, particularly with concerns about Iran's influence and regional conflicts affecting supply chains.