Strait of Hormuz Tanker Crossings Plummet to Lowest Since May as War Risk Surges
On Thursday, only one oil tanker transited the Strait of Hormuz, the lowest daily count since May 7, as escalating war risks pushed crude oil prices above $100 per barrel. According to Kpler vessel-tracking data cited by Reuters, three tankers crossed on Wednesday, but that number collapsed to one on Thursday. The supertanker New Giant, carrying approximately 2 million barrels of Iraqi Basrah crude, exited the strait en route to China's Rizhao port. No inbound transits into the Persian Gulf were recorded. Meanwhile, traffic at the Bab el-Mandeb Strait remained relatively high despite ongoing Houthi attacks, though some tankers diverted north toward the Suez Canal to avoid threats. Saudi Aramco has begun offering crude loadings at Egypt's Sidi Kerir port on the Mediterranean. ING commodity analysts warned that further escalation in the Persian Gulf and widening conflict put significant oil supply at risk, citing Houthi attacks on Saudi tankers and renewed US threats against Iran.
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