Gulf countries boosted crude oil and condensate exports in the first half of July to the highest levels since before the Iran war began in late February, shipping data shows, although flows through the Strait of Hormuz are now slowing as fighting escalates, Reuters reports.

Crude and condensate exports from Saudi Arabia, the United Arab Emirates, Iraq, Kuwait and Iran rose about 16 per cent from the whole of June’s daily average to 12 million barrels per day (bpd) in the first half of July, Kpler data shows.

Vortexa estimates exports during the period at an even higher 13.06 million bpd.

Saudi Arabia, Iran and Iraq led the increase in the first half of July, Kpler says, while Vortexa estimates Iraq posted the largest month-on-month increase and UAE exports eased from record June levels.