# Oman-Dubai Spread Falls to $4.22, Lowest Since Late July By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/37342 Published: 2026-10-22T02:29:43.000Z Updated: 2026-10-22T02:29:43.000Z Section: Investing > September exports from the Middle East Gulf, excluding Iran, averaged at least 16.5 million barrels a day. Forty percent of regional crude bypassed the Strait of Hormuz, up from 17% before the war. The Oman-Dubai crude spread narrowed to $4.22 a barrel in an Oct. 21 reading, its lowest since late July, pointing to improved nearby supply while Gulf exports still depend on altered routes. Excluding Iran, Middle East Gulf crude and condensate exports averaged at least 16.5 million barrels a day from Sept. 1 through Sept. 28, equal to the same group’s prewar pace. Flows have recovered through a different mix of routes, but normal shipping conditions have not returned. In September, 40% of regional crude exports bypassed the Strait of Hormuz, up from 17% before the war. More than 70% of crude that crossed Hormuz in August was transferred to another tanker offshore. Tanker shuttles and transfers helped move barrels, but freight and security costs remain part of delivered crude costs. Oman and Dubai are pricing benchmarks for most physical sour crude traded east of Suez and are used in regional official selling price formulas. The narrower spread signals greater availability of nearby barrels; it does not establish that shipping constraints have eased. Earlier estimates of regional oil flows differed by measurement scope, a question covered in [earlier coverage of regional oil-flow estimates](). ## Links in this article - [earlier coverage of regional oil-flow estimates](https://www.tokenpost.com/news/investing/25669)