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Story summary
- Iran's leverage over the Strait of Hormuz weakened as Gulf crude volumes recovered.
- Kpler reported 16.5 million barrels per day left the region Sep 1-28, matching pre-war levels.
- Forty percent of September oil bypassed Hormuz via pipelines through Saudi Arabia and the UAE.
- Energy analyst Ellen R. Wald says Iran's ability or will to attack ships is declining, keeping a war premium.
