Brent crude traded at $101.20 per barrel, while West Texas Intermediate sat at $89.73. These figures represent a slight absolute increase from Friday, signaling that market participants remain cautious, seeking more definitive evidence before fully pricing in the reported supply recovery. The current throughput, recorded between September 27 and September 29, effectively doubles the daily volume observed just one month prior.

This spike in activity challenges weeks of market skepticism, during which tanker traffic frequently tracked below the ten-day moving average. While persistent reports of Iranian tanker interference and Houthi strikes on Saudi facilities once fueled price volatility, some analysts now view these disruptions as secondary factors. Additionally, liquid natural gas flows have returned to pre-war levels, creating a complex picture for QatarEnergy. Although the company remains under force majeure, its recent efforts to secure spot cargoes to honor long-term contracts suggest a strategic pivot to maintain export reliability despite regional instability.