Gulf oil is flowing despite escalating violence around the Strait of Hormuz. High profits and bonuses for seafarers are prompting shipowners and crews to make the dangerous crossing.

"Persian Gulf oil exports have surpassed prewar levels, as an improvised shipping system under U.S. protection is helping tankers move oil through one of Iran’s fiercest waves of attacks in the Strait of Hormuz." The Wall Street Journal

Persian Gulf oil exports have surpassed prewar levels, as an improvised shipping system under U.S. protection is helping tankers move oil through one of Iran’s fiercest waves of attacks in the Strait of Hormuz.

Persian Gulf oil producers are paying up to $40M for tanker "shuttle runs" through Hormuz, WSJ reports. Some sailors are being offered up to $25K per trip. VLCC charter rates from the Gulf to China recently topped $1.2M a day, up from about $231K before the war.

Persian Gulf oil producers are shifting critical cargo transfer operations even farther out of the war-hit region as waters just outside the Strait of Hormuz become congested with tankers

GOLDMAN: GULF OIL EXPORTS FULLY RECOVER TO 2025 LEVELS Persian Gulf oil exports have doubled in September, reaching 23.3 million barrels per day, according to Goldman Sachs. Crude shipments have recovered to 108% of their 2025 average, but key refined products, including diesel and jet fuel, remain at just 50% amid refinery outages and shipping risks. Goldman sees the global oil market roughly balanced and maintains its $85 Brent forecast for year-end.