[Goldman Sachs: Persian Gulf Oil Exports Have Recovered to About Two-Thirds of Pre-War Levels] BlockBeats News, August 28, Goldman Sachs stated that oil exports from the Persian Gulf have recovered to approximately two-thirds of pre-war levels. Goldman analysts, including Daan Struyven, noted that driven by increased traffic through the Strait of Hormuz, the total export volume of crude oil and petroleum products in the region has risen to 15–16 million barrels per day, still 7–8 million barrels below pre-conflict levels but significantly higher than the March low of 5–6 million barrels per day. The volume of oil transported solely through the Strait of Hormuz may have approached the U.S. officials' estimate of 8–10 million barrels per day. Goldman stated: 'The increase in the number of professional carriers navigating with ship tracking signals turned off, as well as the rise in ship-to-ship transfer activities, indicates that producers and carriers are adapting to the Middle East conflict.' Although a large amount of oil is being exported from the Persian Gulf, the transportation volume of liquefied natural gas and refined oil products remains low. Goldman added: 'In a scenario of continued supply disruptions, we still believe that the upside potential for European natural gas prices and forward refined product prices will exceed that of crude oil.' (Jin10)