Global Oil and Gas: Hormuz tracker: day 143

Research evidence excerpt

Global Oil and Gas: Hormuz tracker: day 143

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Global Oil and Gas Equities

GlobalHormuz tracker: day 143

Oil Companies, Major

Henri Patricot, CFA

Attacks continue, more concerns around Bab el Mandeb Analyst

New attacks on ships in the Strait of Hormuz were reported yesterday and today (link), henri.patricot@ubs.com

which continue to weigh heavily on flows. While we have yet to see disruption to +33-14-888 3033

shipping via the Bab el Mandeb Strait, there are reports of tankers making U-turns in the Nayoung Kim

Red Sea today and heading towards Suez (link), which could support perception of Analyst

higher risk around flows out of the Red Sea following yesterday's announcement from nayoung.kim@ubs.com

the Houthis. +44-20-7568 4010

Joshua Stone

Hormuz tanker crossings still very limited Analyst

The latest UBS Evidence Lab data (> Access Dataset) show only one crude tanker and joshua.stone@ubs.com

+44-20-7901 5588

one LPG carrier exiting the Gulf yesterday (Figure 1Oil&gastankerspasingthroughtheStraitofHormuz,innumberofshipsenteringandexitingtheGulfOil&gastankerspasingthroughtheStraitofHormuz,innumberofshipsenteringandexitingtheGulf). The July average is down to 8.2,

from the mid-to-high teens recorded in late June and early July, and well below the c.50 Josh Silverstein

level seen in February. Volumes through the Strait were still at ~2Mb/d yesterday, taking Analyst

the July average down to 4.7Mboe/d, compared with 3.7Mboe/d in June and 1.3Mboe/ josh.silverstein@ubs.com

+1-212-713 3513

d in May (Figure 4EstimatedoilandgasflowsexitingtheGulf,basedonDWT,inMboe/dEstimatedoilandgasflowsexitingtheGulf,basedonDWT,inMboe/dmatedoilandgasflowsexitingtheGulf,basedonDWT,inMboe/d).