According to CoinMeta, Goldman Sachs stated that Gulf oil flows are recovering, but they are still far below pre-war levels. Goldman Sachs estimates that Gulf oil exports have returned to around 15 to 16 million barrels per day, although they are still 7 to 8 million barrels lower than the level before the US-Israel war. Goldman Sachs noted that the volume of transportation through the Strait of Hormuz is close to the upper limit of official US estimates, indicating that producers and transporters have found effective ways to adapt to the ongoing disruptions. The firm also mentioned that the potential for price increases in European natural gas and long-term oil products is greater than that of crude oil itself, reflecting the possibility that structural bottlenecks in the refining and natural gas markets may be more persistent than the shortage in crude oil supply.