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ConflictStrait of Hormuz tanker crossings plunge to lowest since May
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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 traffic collapsed to just 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 tankers entered the Persian Gulf on Thursday. Meanwhile, traffic at the Bab el-Mandeb Strait remained relatively high despite ongoing Houthi attacks, though some vessels 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 analysts warned that further escalation in the Persian Gulf and widening conflict could put significant oil supply at risk, citing Houthi attacks on Saudi tankers and renewed US threats against Iran.
Source report
Only one oil tanker transited the Strait of Hormuz on Thursday, marking the lowest number of crossings since May 7, as escalating war risks pushed crude oil prices back above $100 per barrel this week.
Traffic Decline
According to Kpler’s vessel-tracking data cited by Reuters on Friday:
- Three tankers crossed the Strait of Hormuz on Wednesday
- That number fell to just one on Thursday
- No tanker made an inbound transit through the Strait into the Persian Gulf on Thursday
The Single Transit
The New Giant, a supertanker carrying approximately 2 million barrels of Basrah crude from Iraq, exited the Strait of Hormuz on Thursday. The vessel is expected to arrive at China’s Rizhao port in mid-August.
Red Sea Traffic and Houthi Threats
Despite the drop in Hormuz traffic, activity at the Bab el-Mandeb Strait in the Red Sea remained relatively high, even amid Houthi attacks on vessels and threats of blockade at Saudi Arabia’s key export route.
However, some tankers were observed turning north in the Red Sea toward the Suez Canal to avoid being targeted by the Houthis—the Iran-aligned group in Yemen that has emerged as a new threat to Middle Eastern oil supply.
Impact on Delivery Routes
Voyages from the Red Sea through the Suez Canal, the Mediterranean, and around the southern tip of Africa extend delivery times for energy commodities to Asia by three times compared to the Bab el-Mandeb Strait route.
Saudi Response
Saudi oil giant Aramco, which had successfully rerouted most of its shipments away from Hormuz via Bab el-Mandeb, has begun offering crude loadings at Sidi Kerir, the Egyptian port on the Mediterranean, according to Reuters.
Analyst Commentary
"Further escalation in the Persian Gulf and fears of a widening conflict are putting a significant amount of oil supply at risk," ING commodity analysts said in a note on Friday. They pointed to Houthi attacks on Saudi tankers in the Bab el-Mandeb Strait and fresh threats from President Trump against Iran.
By Tsvetana Paraskova for Oilprice.com
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Strait of Hormuz Tanker Crossings Plummet to Lowest Since May Amid War Risk Surge