[Oman Crude Oil Premium Over Dubai Crude Drops to Nearly 3-Month Low, Middle East Oil Exports Remain Resilient] According to a report by Jinse Finance, on October 21, a key crude oil benchmark in the Middle East fell to its lowest level in nearly three months, indicating that despite escalating Iranian attacks on shipping, the region's oil exports have shown strong resilience. Data from General Index shows that this week, the premium of Oman crude oil over Dubai crude oil dropped to around $4 per barrel, the lowest level since late July. This price spread reflects the strength or weakness of the Gulf region's physical crude oil market. At the onset of the conflict, this spread had surged to over $60 per barrel as the Strait of Hormuz was nearly brought to a standstill. Despite the risks of attacks, major Middle Eastern exporters have successfully enabled more tankers to pass through the waterway or bypass the Strait of Hormuz entirely via pipelines. These efforts have undermined Iran's attempts to leverage global energy disruptions to strengthen its bargaining position. (Jin10)