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Persian Gulf crude exports rebound to 16.5 million bpd in September as more flows bypass the Strait of Hormuz
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.
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10-2
Amazon signs 20-year nuclear power deal with Constellation for 690 MW from Calvert Cliffs
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.
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