Middle East crude exports hit 15.4 million barrels per day as freight absorbs 82% of Asian refining margin

Middle East crude exports rebounded to 15.4 million barrels per day in September, near 90% of prewar levels, Kpler data shows. Asian refiners net only about $7 a barrel from a $40 gross margin as freight and insurance near $33 absorb 82% of it, versus 16% on the US Gulf Coast. Asia's October imports are seen at 23.5 million barrels per day, as Hormuz attacks lift shipping costs.