Woofun AI data shows that oil tanker transit through the Strait of Hormuz fell to its lowest level in two and a half months on July 23, with only one vessel passing through. This decline, driven by escalating Middle Eastern shipping risks, has contributed to oil prices rising back to approximately $100 per barrel.

The VLCC New Giant departed the strait carrying 2 million barrels of Iraqi Basra crude to China, while no ships entered.

Concurrently, U.S. military strikes against Iran continued for the 13th consecutive night. In response, some tankers are bypassing the Hormuz via the Suez Canal, tripling journey times, while Saudi Aramco has introduced loading options at Egypt's Sidi Kerir port to mitigate export disruptions.