Persian Gulf Oil Exports Recover to 72% of Prewar Levels as Iran Deemed 'Exhausted'

Persian Gulf oil exports have recovered to 72% of prewar levels, with US officials describing Iran as 'exhausted' by the sustained naval blockade. The recovery reflects persistent US Navy-led passage-protection operations and tanker operators accepting elevated war-risk premiums to resume Hormuz transits, though the strait remains well below its pre-crisis throughput baseline.