Hormuz Shipping Traffic Drops Below Average
Commodity vessel transits through the Strait of Hormuz fell below average over the weekend following reports of a vessel struck by a projectile. Meanwhile, a major Saudi oil pipeline was temporarily shut down after a drone attack.
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Commodity vessel transits through the Strait of Hormuz plunged to single digits daily over the weekend, falling well below the 10-day average of 14 ships. The decline follows a weekend attack on a merchant vessel and a drone strike on vital energy infrastructure in Saudi Arabia. The disruption deepens maritime bottlenecks in a region that historically handles 20% of global crude oil and liquefied natural gas supplies.
