Global Oil and Gas "Hormuz tracker: days 119-121" Patricot

Research evidence excerpt

Global Oil and Gas "Hormuz tracker: days 119-121" Patricot

Powered by Lab Global29 JuneResearch2026ab Evidence UBS YES

Global Oil and Gas Equities

GlobalHormuz tracker: days 119-121

Oil Companies, Major

Henri Patricot, CFA

US and Iran agree to pause attacks after another vessel is hit in the Strait Analyst

The US and Iran agreed yesterday to pause hostilities following further attacks over the henri.patricot@ubs.com

weekend and to resume technical talks (link). Another vessels was struck in the Strait of +33-14-888 3033

Hormuz on Saturday, the second attack last week (link). US Central Command said it Nayoung Kim

launched strikes on Iranian targets in direct response to attacks on commercial shipping Analyst

(link). The IMO confirmed the presence of mines in the traditional Hormuz shipping nayoung.kim@ubs.com

lanes (link). +44-20-7568 4010

Joshua Stone

Sharp drop in oil & gas flows via Hormuz but inbound tankers higher Analyst

The latest UBS Evidence Lab data (> Access Dataset) confirm that flows dropped sharply joshua.stone@ubs.com

+44-20-7901 5588

over the past 3 days after the first strike on a ship in the Strait of Hormuz last week. The

average number of oil and gas tankers crossing dropped to an average of 12 per day vs. Josh Silverstein

18 in previous days. Unlike in previous days, flows were skewed to inbound traffic: 13 Analyst

outbound vs. 23 inbound over 3 days (Figure 1Oil&gastankerspasingthroughtheStraitofHormuz,innumberofshipsenteringandexitingtheGulf). The June average has risen to 6.5 josh.silverstein@ubs.com

+1-212-713 3513

crossings per day, vs. the April-May average of c.3, but still materially below February’s

c.50 crossings. Volumes were lower because of fewer outbound tankers: 5Mboe/d on Tom Allen

average, vs. ~12Mboe/d in previous days.