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Hormuz Strait Traffic Drops to Two-Month Low
The data shows that ship traffic through the Strait of Hormuz has decreased to its lowest level in over two months, following a surge in attacks on oil tankers last week, which were among the highest since the start of the U.S.-Israeli war on Iran. On Tuesday, only seven ships passed through the strait, the lowest number since July, with a 27% decline in the amount of oil transported through the strait during the previous week, totaling approximately 10.1 million barrels per day—74% less than before the war began. Nevertheless, exports from the Gulf of Oman and the Red Sea have more than doubled pre-war levels, helping to stabilize overall oil exports from the Middle East despite the reduced traffic through Hormuz. Attacks on oil tankers remain high, reaching their highest levels since the escalation began, including an attack on a vessel 51 nautical miles north of Qatar, amid rising tensions in the region.
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