Global Oil and Gas Hormuz tracker: day 137

Research evidence excerpt

Global Oil and Gas Hormuz tracker: day 137

Powered by Lab Global15 JulyResearch2026ab Evidence UBS YES

Global Oil and Gas Equities

GlobalHormuz tracker: day 137

Oil Companies, Major

Henri Patricot, CFA

New US strikes, new Iranian threats Analyst

Tensions continue to run high around Hormuz. The US said today that it carried out new henri.patricot@ubs.com

strikes targeting Iranian military capabilities used to attack shipping in the Strait of +33-14-888 3033

Hormuz (link). The US blockade on Iranian vessels is enforced again since last night and Nayoung Kim

Iran's IRGC has threatened the "closure of other oil and gas export routes " in the Analyst

region, without specifying which ones (link). The pipelines to Fujairah in the UAE and the nayoung.kim@ubs.com

East-West pipeline in Saudi Arabia carry a combined 9Mb/d. +44-20-7568 4010

Joshua Stone

Flows rebound but still at pre-MoU level Analyst

The latest UBS Evidence Lab data (> Access Dataset) show a modest rebound on joshua.stone@ubs.com

+44-20-7901 5588

Tuesday: up to 7 oil and gas crossings from only 1 the previous day (Figure 1Oil&gastankerspasingthroughtheStraitofHormuz,innumberofshipsenteringandexitingtheGulf), skewed

outbound with 5 tankers exiting the Gulf. The July average has dropped to 10, down Josh Silverstein

from the mid-to-high teens observed in late June and early July, and still far below the Analyst

c.50 level recorded in February. Estimated outbound oil and gas flows also bounced to josh.silverstein@ubs.com

+1-212-713 3513

3.8Mboe/d on Tuesday and the July average is down to 5.8Mboe/d, compared with

3.7Mboe/d in June and 1.3Mboe/d in May (Figure 4EstimatedoilandgasflowsexitingtheGulf,basedonDWT,inMboe/dmatedoilandgasflowsexitingtheGulf,basedonDWT,inMboe/d). Capacity entering the Gulf rose to Tom Allen