Hormuz Strait vessel traffic drops
Ship tracking data showed that the number of tankers transiting the Strait of Hormuz dropped to just one on July 23rd, the lowest level since early May, amidst escalating risks to shipping routes and rising oil prices exceeding $100 per barrel. The data also indicated that the number of tankers passing through the Bab el-Mandeb Strait increased to 32 vessels, as some ships headed toward the Red Sea and the Gulf of Aden. Meanwhile, some companies, such as Saudi Aramco, preferred to reroute their shipping operations away from these straits, reflecting heightened security tensions and their impact on global oil flows.
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