Foreign Trade
Oil and LNG: Middle East Maintains Shipments Despite Tensions in Hormuz
Middle Eastern producers are maintaining oil and LNG shipments despite attacks in the Strait of Hormuz on June 25 and 27. After agreeing to a cessation of hostilities on the 28th, Iran accelerated its exports following a 60-day suspension of sanctions. Approximately 8 million barrels of Emirati and Qatari crude departed over the weekend, while Brent crude fell 10.6% last week.
