Global Oil and Gas "Hormuz tracker: day 73" Patricot

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Global Oil and Gas "Hormuz tracker: day 73" Patricot

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Global Oil and Gas Equities

GlobalHormuz tracker: day 73

Oil Companies, Major

Henri Patricot, CFA

Flows pick up amid reported selective agreements Analyst

Reuters reported that Iraq and Pakistan have reached agreements with Iran over exports henri.patricot@ubs.com

of oil and LNG via the Strait of Hormuz according to several sources (link). A second +33-14-888 3033

Qatari LNG carrier was reported as having crossed the strait (link). Other countries are Nayoung Kim

reportedly exploring similar deals. Analyst

nayoung.kim@ubs.com

Increased oil & gas tanker crossings +44-20-7568 4010

The latest UBS Evidence Lab data (> Access Dataset) indicates a sharp increase in oil & Joshua Stone

gas tankers crossing on Sunday and Monday beyond the crude tankers we discussed Analyst

yesterday, although increased GPS signal spoofing complicates data interpretation (link). joshua.stone@ubs.com

+44-20-7901 5588

This preliminary data indicates ~10 crossings on average over the past couple of days.

The average for oil & gas tankers for May would be up to 2.6 vs. 3.0 in April and the Josh Silverstein

February average of nearly 50. Flows through the Bab-el-Mandeb Strait remained within Analyst

normal range (Figure 11Oil&gastankerspasingthroughtheBab-el-MandebStrait,innumberofshipsenteringandexitingtheRedSea)il&gastankerspasingthroughtheBab-el-MandebStrait,innumberofshipsenteringandexitingtheRedSeail&gastankerspasingthroughtheBab-el-MandebStrait,innumberofshipsenteringandexitingtheRedSeail&gastankerspasingthroughtheBab-el-MandebStrait,innumberofshipsenteringandexitingtheRedSea. josh.silverstein@ubs.com

+1-212-713 3513

No Iranian crude loading; bypass ports volumes higher Tom Allen