Global Oil and Gas Hormuz tracker: day 151

Research evidence excerpt

Global Oil and Gas Hormuz tracker: day 151

eGulf,basedonDWT,inMboe/d). Capacity entering the Gulf was again at 2Mboe/d and tom.allen@ubs.com

+61-3-9242 6237

3.5Mboe/d month to date (Figure 5EstimatedcapacityofoilandgastankersenteringtheGulf,basedonDWT,inMboe/d). Crossings of the Bab el Mandeb Strait dropped

slightly to 8 yesterday, below the usual 13 and close to last week's level. Flows out of the Anna Kishmariya

Red Sea dropped to 3.9Mb/d, half the normal level, while capacity going into the Red Analyst

anna.kishmariya@ubs.comSea was at ~3.5Mb/d (Figure 14EstimatedoilandgasflowsenteringtheRedSeaviatheBabelMandebStrait,basedonDWT,inMboe/dEstimatedoilandgasflowsenteringtheRedSeaviatheBabelMandebStrait,basedonDWT,inMboe/d).

+44-20-7568 7999

Still no loading at Yanbu in the Red Sea; Gulf loadings tick up Rwibhu Aon

Analyst

Crude loadings in the Gulf ex-Iran picked up yesterday but are still trending lower on a

rwibhu.aon@ubs.com

weekly basis to 3.0Mb/d, after recovering to ~6Mb/d a few weeks ago, and the lowest +91-22-6155 6078

level since late June. The average so far in July is 4.6Mb/d vs. 3.4Mb/d in June. There was

Tasso Vasconcellosno Iranian crude loading either and the July average is down to 1.0Mb/d, below the

typical 1.7-1.8Mb/d range, but above June’s 0.8Mb/d (Figure 9Iran'scrudeloadingsbyport(Mb/d)Iran'scrudeloadingsbyport(Mb/d)Iran'scrudeloadingsbyport(Mb/d)). Outside of the Strait,

tasso.vasconcellos@ubs.com

there was a sixth day with no crude loading at Yanbu, which is down to a mere 0.5Mb/d +55-11-2767 6683

over the past week, while the month-to-date level is down to 3.6Mb/d vs. June’s 4.8Mb/

Ellinor Cederstroem Palliottod (Figure 10YanbucrudeloadingsbasedonDWT,inMboe/d). Combining with Fujairah in the UAE, loadings were down to 0.8Mb/d

Associate Analyst