Hormuz Tanker Crossings Sink to Lowest Level Since May as War Risk Spikes

Only one oil tanker transited the Strait of Hormuz on Thursday, the lowest number of crossings since May 7, as war risks spiked this week to hike crude oil prices above $100 per barrel again.

Three tankers transited the Strait of Hormuz on Wednesday, but this number crumbled to just one on Thursday, according to Kpler’s vessel-tracking data cited by Reuters on Friday.

The New Giant, a supertanker loaded with about 2 million barrels of Basrah crude from Iraq, exited the Strait of Hormuz on Thursday, with China’s Rizhao port expected…