Gulf oil exports recover, yet Brent climbs past $117

Crude exports from the Gulf averaged 24.6 million barrels a day in the week to October 18, above pre-war levels, according to Kpler. Yet Brent is at its highest since April, over 60% above pre-war prices, briefly topping $117 on Friday. Analysts blame fears of renewed fighting in the Iran war, shrinking stocks and higher shipping costs.