Tanker traffic through the Strait of Hormuz falls to a two-month low

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On-chain data shows tanker traffic through the Strait of Hormuz fell to a two-month low on July 23, with only one oil tanker passing through—the lowest since May 7. Three tankers transited the strait on July 22. The New Giant, carrying 2 million barrels of Iraqi crude, departed and is expected to arrive in China in mid-August. No vessels entered the strait on July 23. The U.S. military confirmed 13 consecutive nights of strikes against Iran. Shipping through the Bab-el-Mandeb Strait increased to 32 tankers on July 23. Due to regional risks, some tankers are rerouting via the Suez Canal, nearly tripling transit time. Saudi Aramco now offers additional crude loading at Egypt’s Sidi Kerir port, replacing Red Sea options. Traders monitoring altcoins may consider regional shipping disruptions in their analysis.

ChainThink reports that, according to vessel tracking data, only one oil tanker passed through the Strait of Hormuz on July 23, the lowest level since May 7; three oil tankers passed on July 22.

Due to shipping risks in the Middle East, oil prices have risen again to around $100 per barrel.

Data shows that the very large crude carrier New Giant departed the Strait of Hormuz that day, carrying approximately 2 million barrels of Iraqi Basra crude oil, with an expected arrival at Rizhao Port, China, in mid-August; no vessels entered the strait that day.

The U.S. military stated that it has completed its 13th consecutive night of military strikes against Iran. Meanwhile, shipping through the Strait of Hormuz has resumed, with 32 tankers passing through on July 23, up from 26 the previous day.

Due to regional risks, some oil tankers bound for Asia have rerouted via the Suez Canal, potentially extending voyage durations by nearly three times. Aramco has also begun offering additional crude oil loading options through the Egyptian Mediterranean port of Sidi Kerir to replace loading at Red Sea ports.

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