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Oil prices remain around $100 per barrel, despite increased exports from the Middle East, due to risks of renewed clashes, rising transportation costs, and declining global inventories. This is attributed to ongoing prospects of escalation in the region, unresolved disputes over ending the war, higher shipping expenses, weak diesel reserves, and restrictions on fuel exports coupled with declining flows of refined products. Although approximately 325 million barrels have been released from inventories, supply chain and refining pressures have kept prices elevated. The market is expected to remain influenced by these factors until the end of 2026.
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