Hormuz Vessel Traffic Plummets as Middle East Tensions Persist

The Strait of Hormuz, a critical waterway for global oil and gas trade, has seen a significant drop in vessel traffic. According to shipping data from analytics firm Kpler, only 12 vessels passed through the strait over the weekend, down from 35 in the previous weekend. This decline is attributed to ongoing tensions in the Gulf region.

Despite reduced visibility due to some ships turning off their transponders, Middle Eastern producers continue to export oil on tankers. In fact, Saudi crude exports rose to over 4 million barrels per day (bpd) in September, a notable increase. This surge is partly due to Houthi attacks on Saudi facilities, which led the country to boost exports via the strait.

Provisional data from Kpler shows that four vessels exited the strait on Sunday, while two small-sized oil tankers entered the Gulf. Additionally, five vessels left the Gulf carrying various goods, including agricultural products and liquefied petroleum gas, with an empty very large gas carrier entering the region.