Oil rises despite Gulf export rebound amid risk of renewed US strikes on Iran

On October 30, December Brent briefly topped $117, Al Jazeera reported; The Business Times put the more-active January contract above $112. Gulf crude exports exceeded their pre-war average in the week to October 18, according to Al Jazeera citing Kpler. Analysts cited fears of renewed fighting, dwindling inventories and costly shipping. The export rebound does not establish that production or transit has returned to normal.