Brent fell 3.4% yesterday to $100.34 per barrel. Supply concerns have eased: Saudi Arabia is restoring exports, and tanker traffic through the Strait of Hormuz is rising. According to CENTCOM, oil and LNG shipments through the strait reached a six-month high over the past two weeks. Satellite data show that over the past six days Saudi Arabia shipped an average of 2.9 million b/d through Hormuz, compared with 0.7 million b/d in August. Overall vessel traffic through the strait, however, remains well below pre-war levels.