Iraqi Oil Tankers Transit Red Sea Amid Slower Navigation
According to data from Kpler, maritime traffic through the Bab el-Mandeb Strait has slowed to its lowest levels in months, following Yemen's attacks on Saudi oil facilities in retaliation for the military assault on Hodeidah. This has increased shipping disruptions in the Red Sea. Additionally, vessel movement through the Strait of Hormuz continues to decline despite the cessation of clashes between the United States and Iran, amid shipping companies' concerns over security risks. Despite these challenges, Iraq's oil exports through the Strait of Hormuz have persisted, with Saudi, Emirati, and Russian oil tankers shipping to China, as markets monitor the impact of these disruptions on energy supplies and shipping costs.
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