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Only one tanker crossed the Strait of Hormuz on Thursday
Kpler data cited by Reuters showed outbound traffic fell from three tankers on Wednesday to one on Thursday, while no tankers entered the Persian Gulf.
Oil tanker traffic through the Strait of Hormuz fell sharply, with only one vessel transiting the chokepoint on Thursday, the lowest level since May 7, as war risk fears pushed crude prices back above $100 per barrel, according to OilPrice citing Kpler vessel-tracking data reported by Reuters. The outlet said three tankers crossed on Wednesday, but that number dropped to one on Thursday. The New Giant, a supertanker loaded with about 2 million barrels of Basrah crude from Iraq, exited the Strait of Hormuz on Thursday, with China’s Rizhao port expected to welcome the ship in mid-August, the data showed. At the same time, OilPrice reported that no tankers made an inbound transit through the Strait into the Persian Gulf on Thursday. It also noted that traffic at the Bab el-Mandeb Strait in the Red Sea remained relatively high despite Houthi attacks and threats of blockade at Saudi Arabia’s export valve, though some tankers appeared to turn north toward the Suez Canal to reduce targeting risk. The longer route via the Red Sea, the Suez Canal, the Mediterranean, and around Africa’s southern tip increases delivery time for energy commodities to Asia by three times compared with shipments through the Bab el-Mandeb Strait, OilPrice added. It further said Aramco has begun offering crude loadings at Sidi K, after re-routing many shipments away from Hormuz via Bab el-Mandeb.
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