The Strait of Hormuz oil supply route is facing fresh pressure as the number of commodity vessels crossing the strategic waterway dropped sharply over the weekend, raising concerns about the movement of crude from the Middle East. Preliminary vessel-tracking data showed that just 14 commodity vessels moved through the strait in either direction on Saturday and Sunday, significantly highlighting the growing caution among shipowners and energy exporters.
Only four commodity vessels were recorded leaving the Persian Gulf during the weekend, including a Suezmax tanker carrying crude or condensate, while 10 vessels entered the region. The figures come as tensions in the Middle East intensify, with attacks on tankers and growing security concerns around key shipping routes. However, vessel-tracking data may not capture ships that have switched off their positioning systems to avoid detection or potential attacks.
The situation became more concerning for global oil markets after Saudi Arabia shut down its East-West pipeline, a major route used to transport crude from the Persian Gulf to the Red Sea port of Yanbu while bypassing the Strait of Hormuz. Saudi authorities said the shutdown was a precautionary measure following a drone attack on the pipeline on Thursday in a province near Iran.
The pipeline shutdown has increased concerns about Saudi Arabia’s ability to move crude to international markets without relying on the Strait of Hormuz. At the same time, threats from Iran-aligned Houthi forces in the Red Sea are adding another layer of risk for energy shipments from the region, making alternative export routes increasingly vulnerable.
Oil markets reacted quickly to the developments, with crude prices climbing in early Asian trading on Monday. Brent crude rose to $108 per barrel, while West Texas Intermediate (WTI) climbed to $103, as traders weighed the possibility of tighter supplies and further disruption to Middle East energy exports. With tensions continuing to threaten critical shipping and pipeline routes, global oil markets are likely to remain highly sensitive to developments across the region.
source: oilprice
