Global Oil and Gas: Hormuz tracker: days 147-149

Research evidence excerpt

Global Oil and Gas: Hormuz tracker: days 147-149

of the conflict. Capacity Tom Allen

entering the Gulf averaged just above 2Mboe/d over the past 3 days and 3.8Mboe/d Analyst

month to date (Figure 5EstimatedcapacityofoilandgastankersenteringtheGulf,basedonDWT,inMboe/d). Crossings of the Bab el Mandeb Strait remained below 10 on tom.allen@ubs.com

+61-3-9242 6237

average over the past 3 days vs. the usual 13. Flows out of the Red Sea averaged 3Mb/d,

or just half the usual level of ~6Mb/d but capacity going into the Red Sea stayed at Anna Kishmariya

~4.5Mb/d (Figure 14EstimatedoilandgasflowsenteringtheRedSeaviatheBabelMandebStrait,basedonDWT,inMboe/dEstimatedoilandgasflowsenteringtheRedSeaviatheBabelMandebStrait,basedonDWT,inMboe/d). Analyst

anna.kishmariya@ubs.com

+44-20-7568 7999

Crude loadings in the Gulf steady; Yanbu clearly impacted

Rwibhu AonCrude loadings in the Gulf ex-Iran continue to be revised higher but are still only at 4Mb/

Analyst

d over the past week, after recovering to ~6Mb/d a few weeks ago. The average so far in

rwibhu.aon@ubs.com

July is 4.8Mb/d vs. 3.4Mb/d in June. Iranian crude loadings remain limited and the July +91-22-6155 6078

average is down to <1.1Mb/d, below the typical 1.7–1.8Mb/d range, but above June’s

Tasso Vasconcellos0.8Mb/d (Figure 9Iran'scrudeloadingsbyport(Mb/d)Iran'scrudeloadingsbyport(Mb/d)Iran'scrudeloadingsbyport(Mb/d)). Outside of the Strait, Yanbu shows a clear impact of recent Houthi

strikes and Bab el Mandeb tensions. Our data show no crude loading for the past 4 days,

tasso.vasconcellos@ubs.com

driving the average to just 2.1Mb/d over the past week, while the month-to-date level is +55-11-2767 6683

down to 3.9Mb/d vs. June’s 4.8Mb/d (Figure 10YanbucrudeloadingsbasedonDWT,inMboe/d). Combining with Fujairah in the UAE,