Brent crude prices have surged over 60% compared to pre-Iran war levels, briefly topping $117 a barrel on Friday, even as oil flows from the Gulf have increased. Market analysts attribute the persistent rise to anxieties over potential escalation in the US-Iran conflict, dwindling global oil stockpiles, and a tenfold increase in transportation costs, reaching up to $40 per barrel. Kpler data shows Gulf crude exports averaged 24.6 million barrels per day in the week to October 18, exceeding pre-war levels, but IEA data indicates global stockpiles fell by 10 million barrels in September, now 509 million barrels below pre-war levels. Experts warn that while workarounds like ship-to-ship transfers and pipeline diversions are maintaining supply, they come at significantly higher costs and risks, with no immediate end to the conflict in sight.