Strait of Hormuz Movement Drops

The article focused on the decline in oil tanker movement through the Strait of Hormuz to its lowest level since May, with only one tanker passing through on July 23, compared to three tankers the previous day, according to data from Kpler. The tanker was the "New Jaint," which left the strait loaded with two million barrels of Basra crude and was heading toward China. This comes amid ongoing shipping risks and a return to oil prices reaching $100 per barrel, while the number of oil tankers transiting the Bab el-Mandeb Strait increased to 32. It was also noted that some tankers are taking longer routes, such as a chemical oil tanker that diverted from the Bab el-Mandeb route to the Suez Canal, affecting the duration of the journey. Meanwhile, the U.S. military announced the completion of 13 nights of strikes against Iran, amid concerns about how heightened tensions could impact oil shipping movements.

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