Oil Exports in the Middle East are Soaring, but Prices Are Still Well Above $100. Here's Why.

Source: International Business Times

Assessing oil's value has grown more complicated as traders weigh recovering exports against the threat of further military escalation. Getty Images Oil is flowing out of the Persian Gulf at volumes that have sometimes exceeded prewar levels, yet prices remain above $100 a barrel and consumers have yet to see any kind of relief at the pump. Brent crude, the global benchmark, traded around $111 a barrel early Thursday.