While export volumes remain far below pre-war levels, the continued movement of some cargoes highlights efforts by Gulf producers and traders to maintain supply flows into global markets despite heightened security risks, News.Az reports, citing World Oil.
According to tanker-tracking data compiled by Bloomberg, non-Iranian crude exports through Hormuz have averaged roughly 500,000 bpd since the beginning of March, compared to about 13.6 MMbpd during the two months before the conflict escalated.
Most transits are reportedly taking place with tanker transponders turned off to reduce detection risks while passing through the heavily militarized waterway.
Bloomberg reported that ADNOC has been among the more active Gulf producers attempting to move cargoes through the strait. In one case, the supertanker Basrah Energy loaded crude from Zirku Island in the UAE before exiting the Gulf and transferring cargo offshore Oman for delivery to Asia. Another tanker, Fujairah Energy, was reportedly waiting offshore Abu Dhabi after receiving crude through ship-to-ship transfers.
Earlier this week, ADNOC Logistics & Services tanker Barakah was reportedly struck by Iranian drones off the coast of Oman while transiting the area. No immediate operational impact was detailed.
Oil traders and tanker operators continue to navigate sharply elevated risks and freight costs as the disruption persists. Some shipowners have avoided the region entirely, while others have sought significantly higher charter rates to continue operating in Gulf waters.
The report noted that Greek tanker operator Dynacom Tankers Management and commodity trader Mercuria Energy Group are among firms still moving cargoes through the region despite the security situation. Mercuria CEO Marco Dunand recently said more tankers are transiting Hormuz than publicly visible tracking data suggest.
The Strait of Hormuz remains one of the world’s most critical energy chokepoints, handling a substantial share of global crude and LNG exports under normal market conditions. The sharp decline in flows since March has intensified concerns about global supply security and contributed to continued volatility in oil and gas markets.
