You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser. Subscribe Get Daily Email Subscribe --> Contact Us Sign in Home News & Features Compliance Costs Bunker Prices Bunker Intelligence World News Latest Features World Americas EMEA Asia/Pacific Home News & Features World Oil Steady As "Gradual" Gulf Transit Improvement Forecasts Clash With News of 98% Recovery Oil Steady As "Gradual" Gulf Transit Improvement Forecasts Clash With News of 98% Recovery by Ship & Bunker News Team Wednesday September 30, 2026 Tweet Follow @shipandbunker Conflicting data still suggests Iran's diminishing influence over the Hormuz: File Image/Pixabay.   No sooner did the oil market embrace news that Iran ’s so-called blockage of the Strait of Hormuz was losing credibility as an increasing number of vessels were transiting the waterway than analysts on Wednesday cited Gulf export disruptions as a reason for raising oil forecasts. Amid their predictions, oil trading for Wednesday held steady, with Brent trading near $96 per barrel after dropping 1.7 percent in the previous session, and West Texas Intermediate hovering around $90. “ The global oil market is roughly balanced in September Goldman Sachs Ironically given the mindset of the forecasters, the trading was said to be spurred by JPMorgan disclosing in a note that crude exports from the Middle East had rebounded to 17.5 million barrels per day (bpd), or 98 percent of pre-war levels. In addition, Saudi Arabia restored flows through its East-West pipeline to at least 3.5 million bpd, about half its capacity, according to people familiar with the matter. Still, a September survey of 30 economists and analysts forecast that Brentwould average $89.05 per barrel in 2026 and WTI $83.90 per barrel. Suvro ⁠Sarkar , head of energy research at DBS Bank , said, "We are not betting on a resolution to the conflict within the next three to six months…Significant upside risks