Strait of Hormuz tanker crossings fall to lowest since May 7; only one tanker crossed Thursday

According to analytics firm data source, only one tanker crossed the Strait of Hormuz on Thursday, 23 July (1 Mordad), down from three the previous day and the lowest level since 7 May. The drop followed the US military saying it had carried out a 13th consecutive night of strikes on Iran, with tension rising over shipping lanes through the strait.

A very large crude carrier (VLCC) named New Giant, loaded with about 2 million barrels of Iraqi Basrah crude, exited the strait and is due to reach China's Rizhao port by mid-August. Hormuz carries roughly a fifth of the world's oil; the fall in traffic, alongside crude returning near $100, puts direct pressure on the oil market and on Iran's currency and inflation expectations.