Key facts
- Tanker traffic in the Strait of Hormuz was three vessels on Wednesday.
- This is down from 12 vessels the previous day.
- The 10-day average for tanker traffic in the Strait of Hormuz is about 17.
- Ship owners and energy exporters are increasingly cautious navigating the Strait of Hormuz.
- Houthi attacks in the Red Sea have targeted Saudi shipments, including the East-West pipeline.
- Saudi Arabia may seek to increase shipments via the Strait of Hormuz.
Tanker traffic in the Strait of Hormuz has significantly decreased, with only three vessels recorded traversing the waterway on Wednesday, a sharp decline from 12 the previous day, according to preliminary ship-tracking data from Kpler. This trend, with a 10-day moving average of about 17, reflects heightened caution among ship owners and energy exporters due to escalating regional hostilities.
The Houthis' recent attack on Saudi Arabia's East-West pipeline has reportedly led to crude oil loading cancellations from Yanbu. In response, Saudi Arabia is reportedly considering increasing shipments through the Strait of Hormuz, although the current low traffic numbers cast doubt on the feasibility of this plan. The rate of tanker traffic via the Strait of Hormuz has been declining for weeks. Even accounting for vessels that may have turned off their geolocation devices, traffic remains severely subdued.