Hormuz Tanker Crossings Plummet Amid Iran Tensions

The Strait of Hormuz saw its lowest tanker crossing in over two months on Thursday, according to shiptracking data from analytics firm Kpler. A total of one tanker crossed the strait on July 23, down from three the previous day. This comes amid ongoing shipping risks in the Middle East and rising oil prices.

The New Giant, a very large crude carrier loaded with 2 million barrels of Iraqi Basrah crude, exited the Strait of Hormuz on Thursday and is expected to arrive at China's Rizhao port by mid-August. In contrast, no tankers entered the strait on July 23.

The reduced tanker traffic may be a result of increased security measures in the region. The U.S. military completed its 13th consecutive night of strikes on Iran late Thursday.