Shipping activity through the Strait of Hormuz has fallen sharply, highlighting growing pressure on one of the world’s most important oil transit routes. According to Reuters, only about 12 commodity vessels passed through the strategic waterway over the weekend, compared with 35 tankers and other commodity carriers recorded a week earlier. The decline comes as tensions in the Middle East continue to disrupt maritime movement and raise concerns over global oil supplies.

The latest figures, however, only cover vessels transmitting their tracking signals. Some ships reportedly switch off their transponders to avoid detection, meaning the actual number of vessels crossing the strait could be higher. Earlier data from Kpler showed that just four tankers passed through the waterway last Thursday, compared with a 10-day average of 16 vessels. Kpler also reported that only 13 very large crude carriers exited the strait in the week ending September 13.

Despite the decline in overall traffic, Saudi Arabia’s crude oil exports have remained relatively strong. JPMorgan said tanker activity in Saudi Arabia has improved, with the country exporting crude at an estimated rate of 2.9 million barrels per day through Hormuz over the six days leading up to its latest assessment. The investment bank described Saudi Arabia’s shift in oil-export patterns as one of the most notable developments amid the disruption.

Saudi Arabia has been using a combination of pipelines and maritime routes to keep crude moving. Oil is transported by pipeline to Ras Tanura on the Persian Gulf, where smaller vessels carry it toward the Gulf of Oman before transferring the crude to larger tankers. The alternative route has helped maintain oil flows despite the reduced movement of vessels directly through the Strait of Hormuz.

However, Saudi Arabia is facing fresh challenges on its Red Sea export route. Recent attacks by Yemen’s Houthi group have affected oil movements from the Red Sea port of Yanbu, which had become an important outlet for Saudi crude following the disruption around Hormuz. The latest attacks, including strikes involving Riyadh and Yanbu, add another layer of uncertainty to regional energy supplies and could keep global oil markets closely focused on shipping activity across the Middle East.

source: oilprice