Hormuz Transit Drops to Twelve as Saudi Exports Hit 2.9 Million Barrels
Tanker traffic through the Strait of Hormuz fell sharply this weekend, yet Saudi Arabia maintained high export volumes via alternative routes.
Key points
- Twelve commodity vessels passed the Strait of Hormuz this weekend, down from thirty-five a week earlier.
- Saudi Arabia exported 2.9 million barrels of crude daily via the Hormuz route over the last six days.
- Houthi strikes on the port of Yanbu threaten Saudi Arabia's alternative Red Sea export route.
Commodity vessel traffic through the Strait of Hormuz fell to just twelve ships this weekend. This represents a steep decline from thirty-five tankers recorded only one week earlier.
The drop signals a tightening of movement restrictions in the critical waterway. However, Saudi Arabia continued exporting crude at a rate of 2.9 million barrels per day.
Transit volumes decline sharply
Kpler data indicates that only four tankers passed the strait last Thursday. This is well below the ten-day moving average of sixteen vessels. The figures reflect a significant reduction in visible shipping activity.
Operators often switch off transponders to avoid detection, complicating accurate tracking. Despite this, the trend points to restricted access for larger carriers. Very large crude carriers exited the strait at a rate of just thirteen per week.
Saudi exports remain robust
JP Morgan reports that Middle East oil flows remain strong despite regional disruptions. Saudi Arabia has sustained exports of 2.9 million barrels daily over the past six days. This volume was achieved via the Hormuz corridor despite broader instability.
The kingdom routes oil through its East-West pipeline to Ras Tanurah port. From there, smaller vessels transport crude to the Gulf of Oman. The cargo is then transferred to larger tankers for final delivery.
Houthi strikes complicate logistics
Saudi exports from the Red Sea port of Yanbu face new threats. Yemen’s Houthi group launched a series of attacks on Saudi targets this weekend. These strikes include direct hits on the port of Yanbu and facilities in Riyadh.
Yanbu serves as a primary outlet for crude following the Hormuz freeze. The recent barrage of strikes compromises this vital alternative route. Market participants monitor these developments closely for potential supply chain impacts.
