Global Oil and Gas: Hormuz tracker: day 153

Research evidence excerpt

Global Oil and Gas: Hormuz tracker: day 153

4EstimatedoilandgasflowsexitingtheGulf,basedonDWT,inMboe/dEstimatedoilandgasflowsexitingtheGulf,basedonDWT,inMboe/dmatedoilandgasflowsexitingtheGulf,basedonDWT,inMboe/d). Storage and loadings data continue to suggest a

couple more crude crossings a day than the data we capture. Capacity entering the Gulf Anna Kishmariya

dropped to 1.1Mboe/d and has averaged 3.4Mboe/d month to date (Figure 5EstimatedcapacityofoilandgastankersenteringtheGulf,basedonDWT,inMboe/ Analyst

anna.kishmariya@ubs.comd). Crossings of the Bab el Mandeb Strait were fairly stable at 11 yesterday, close to the

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usual 13. Flows out of the Red Sea dropped to 1.8Mb/d, <1/3 of normal level, while

capacity going into the Red Sea was high at 8.1Mb/d (Figure 14EstimatedoilandgasflowsenteringtheRedSeaviatheBabelMandebStrait,basedonDWT,inMboe/dEstimatedoilandgasflowsenteringtheRedSeaviatheBabelMandebStrait,basedonDWT,inMboe/d). Rwibhu Aon

Analyst

rwibhu.aon@ubs.comCrude loadings stabilising

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Crude loadings in the Gulf ex-Iran were up to 5.1Mb/d and appear to be stabilising

Tasso Vasconcellosaround 3Mb/d on a weekly basis, after recovering to ~6Mb/d a few weeks ago. The

average so far in July is 4.5Mb/d vs. 3.4Mb/d in June. There was no Iranian crude loading

tasso.vasconcellos@ubs.com

yesterday and the July average is down to 0.9Mb/d, below the typical 1.7-1.8Mb/d +55-11-2767 6683

range, and now only just above June’s 0.8Mb/d (Figure 9Iran'scrudeloadingsbyport(Mb/d)Iran'scrudeloadingsbyport(Mb/d)Iran'scrudeloadingsbyport(Mb/d)). Outside of the Strait, loadings

Ellinor Cederstroem Palliottoat Yanbu dropped to ~2Mb/d in the past couple of days and are still at 3.3Mb/d over the

Associate Analyst