Hormuz traffic hits lowest level in two months as tanker attacks surge

The Strait of Hormuz saw its lowest vessel traffic in over two months last week due to a surge in attacks on tankers, according to shipping data from Kpler analytics firm. Seven commodity ships passed through the strait on Tuesday, marking the lowest figure since July 23. Crude oil exports via the strait decreased by 27%, reaching at least 10.1 million barrels per day, which is now at its September average but only 74% of pre-war levels.

Most of the decline was due to ship-to-ship transfers in the Gulf of Oman, while exports from the Gulf of Oman and the Red Sea rose to 6.7 million barrels per day, more than double pre-war levels. This helped maintain overall Middle East crude exports at pre-war levels. The number of vessels transiting the strait increased to 10 on Wednesday, but was still far below the daily average of over 20 during the previous two days.

The data did not include vessels that crossed with their Automatic Identification System transponders turned off. The attacks on tankers through Hormuz reached their highest level since the Iran war began last week, with Gulf producers increasing their export push. In the latest incident, a tanker was attacked 94km north of Qatar's Madinat ash Shamal, resulting in casualties, as reported by the UK Maritime Trade Operations agency.

Prior to the Iran war starting on February 28, approximately 125 large commercial vessels passed through the strait each day, carrying a fifth of the global supply of crude oil and liquefied natural gas.