Hormuz shipping falls to two-month low after surge in attacks

Shipping traffic through the Strait of Hormuz fell to a two-month low this week following a record number of attacks on tankers since the start of the US-Israel war on Iran in February, according to data from the commodity tracking firm Kpler. Only seven commodity vessels transited the strait on Tuesday, the lowest daily figure since July 23. The number edged up to 10 on Wednesday, but remained well below the more than 20 vessels recorded on Sunday and Monday.

Kpler analysts Emmanuel Belostrino and Yui Torikata reported that crude oil crossing the strait fell 27 percent from a wartime high the previous week, to at least 10.1 million barrels per day. That figure is back to its September average but represents only 74 percent of its pre-war level. The data also showed that more vessels entered the strait than exited over the past two days.

The decline in shipping activity comes amid a spike in attacks on tankers in the strategic waterway, which is a vital conduit for global oil shipments. The Strait of Hormuz connects the Persian Gulf with the Gulf of Oman and is the only sea passage from the Persian Gulf to the open ocean, making it one of the world's most important oil chokepoints.

The US-Israel war on Iran, which began in February, has heightened tensions in the region and disrupted maritime traffic. The attacks on tankers have raised concerns about the safety of commercial shipping and the potential for further escalation. The Kpler data provides a quantitative measure of the impact on oil flows, showing a significant reduction in crude volumes compared to both wartime peaks and pre-war levels.

According to Mehr News, the fall in shipping follows a record number of attacks on tankers since the start of the conflict. The report cited Kpler data showing the lowest number of transits since July 23 and a 27 percent drop in crude crossings from the previous week's wartime high. The analysts noted that the current level is back to the September average but remains 74 percent of the pre-war level.