HORMUZ BOTTLENECK PERSISTS Crude exports from the Middle East Gulf remain constrained despite a four-day pause in US strikes on Iran, according to Kpler. Vessel clearances stayed near recent lows, while Gulf loading activity fell by more than half. Kpler said security risks, higher war-risk insurance and Iranian interdictions continue to restrict exports, with ship-to-ship transfers easing storage but not boosting supply.(*Walter Bloomberg)