Hormuz Tanker Traffic Sinks to Two-Month Low Following Surge in Maritime Attacks

Crude oil benchmarks remain elevated, with Brent above $102 per barrel and WTI topping $90, as tanker traffic through the Strait of Hormuz dropped to its lowest level in over two months. The contraction follows at least 12 maritime attacks recorded between late September and early October, including strikes off Qatar. Daily commodity transits through the chokepoint fell to seven on Tuesday, cutting crude flows by 27% week-over-week to about 10.1 million barrels per day. Shipments bypassing the strait via the Red Sea and Gulf of Oman partially offset losses at 6.7 million bpd.