The International Energy Agency will release more than 20 million barrels of diesel as soon as possible and accelerate the rest of its emergency oil draw,

Shell has warned that Australia's proposed domestic gas reservation scheme could disrupt market prices and discourage investment in future gas supplies.

Crude prices fell in early trading after Kpler data showed daily oil flows out of the Strait of Hormuz rose to 19.5 million to 22.5 million barrels in late September, above prewar levels. Brent remained above $100 a barrel, while WTI was at $89.73 a barrel. The figures were cited in Reuters’ description of “provisional data” from Kpler.

Crude exports from the Persian Gulf returned to near prewar levels in September, excluding Iran, averaging 16.5 million barrels per day. The share of regional crude moving through the Strait of Hormuz fell to 60% from 83% before the war, with about 9.9 million barrels per day crossing the chokepoint. The remaining 40% bypassed Hormuz via pipelines and other routes through Saudi Arabia and the United Arab Emirates. Greater reliance on pipelines, offshore transfers and military escorts has reduced Iran’s leverage over the strait.

Middle East crude exports have recovered to 98% of pre-war levels, beating market expectations. At the same time, roughly 3 million barrels per day of refining capacity has been disrupted by the conflict, keeping global diesel supplies tight. EU diesel pump prices have hit record highs as a result.

Constellation Energy and Amazon signed a 20-year electricity supply agreement for 690 megawatts from the Calvert Cliffs nuclear power plant in Maryland. The deal supports more than $3 billion of infrastructure investment, including upgrades that add 190 megawatts of generating capacity between 2030 and 2032. Estimates indicate the agreement could lift Constellation’s free cash flow by about $86 million to $224 million. Constellation shares rose nearly 4% in premarket trading on the news.

UK diesel prices have jumped to a record 199.18p per litre, adding to pressure on households and businesses. Brent crude has moved above $96 a barrel, while the two-year gilt yield has climbed to 4.75%. The rise in energy and borrowing costs comes as the Chancellor prepares to present the Budget on October 28.

Preliminary Kpler data show Middle East crude exports rebounded to 12.8 million barrels a day in September, driven mainly by Saudi Arabia. Saudi exports averaged 5.4 million bpd this month, including 3.6 million bpd from the Ras Tanura port, in line with the country’s 2025 daily average, according to Kpler. Total exports briefly reached 13.2 million bpd on one day last Wednesday, but traffic through the Strait of Hormuz remains weak and overall flows are still below the roughly 17 million bpd average seen before the war.

International oil prices fell for a sixth straight session, with Brent down about 1% to $98.30 and WTI down 1.4% to $89.49. U.S.-Iran talks held at the United Nations, alongside the restart of a previously disrupted Saudi pipeline, eased concerns over potential Middle East supply disruptions. Saudi Aramco plans to restore pipeline flows to roughly 4 million barrels per day (bpd) within a few weeks.