2026-09-18 · IEA

Alternative oil routes help, but the Gulf supply gap remains

The IEA says Gulf exports remain constrained. Bypass routes, extra supply elsewhere and weaker demand offset part of the loss, while declining inventories leave markets vulnerable to further disruption.

The oil moving through one strait is not the same as the net global shortage. Prices also respond to alternative routes, refinery demand and inventories. The assessment is dated analysis, not a live oil-price quote.

Local reading focus

New Zealand: Pacific trade routes, imported fuel and humanitarian access; all casualty figures retain their original geographic scope.