Strait of Hormuz tanker crossings fall to two-month low

SINGAPORE — The number of tankers crossing the Strait of Hormuz dropped to just one on Thursday, the lowest level since May 7, according to shiptracking data, as ongoing shipping risks in the Middle East pushed oil prices back toward $100 a barrel.

Only one tanker crossed the Strait of Hormuz on July 23, compared with three the previous day, data from analytics firm Kpler showed.

The very large crude carrier New Giant, carrying 2 million barrels of Iraqi Basrah crude, exited the strait on Thursday and is expected to arrive at China's Rizhao port by mid-August.

No ships entered the Strait of Hormuz on July 23.

The U.S. military said late Thursday that it had completed its 13th consecutive night of strikes on Iran, adding to concerns over regional security and disruptions to energy shipments.

Meanwhile, tanker activity at the Bab el-Mandeb strait increased, with 32 commodity tanker crossings recorded on July 23, up from 26 the previous day, according to Kpler data.

Of the total crossings, 14 tankers entered the Red Sea, while 18 exited the strait into the Gulf of Aden. Among those leaving Bab el-Mandeb, nine were carrying crude oil, including two Chinese supertankers bound for China.

Separately, the clean tanker Torm Innovation, carrying about 500,000 barrels of naphtha bound for Asia, slightly altered its route toward the Suez Canal exit instead of taking the usual Bab el-Mandeb route, according to Kpler and LSEG shiptracking data.

Rerouting vessels through the Suez Canal to reach Asia instead of passing through the Bab el-Mandeb strait could nearly triple the length of the voyage, regional trade sources said.

Saudi Aramco has also started offering additional crude cargoes loaded from Egypt's Mediterranean port of Sidi Kerir as an alternative to shipments from its Red Sea ports. -Reporting by Trixie Yap; Editing by Tom Hogue/Reuters