--- title: "UBS Survey: Daily Flow Through the Strait of Hormuz Exceeded 6 Million Barrels Last Week" type: "News" locale: "en" url: "https://longbridge.com/en/news/296682552.md" description: "A UBS report noted that oil transit volumes through the Strait of Hormuz remained slightly above 6 million barrels per day. Although visible tanker traffic is low, \"dark fleet\" shipments have risen to 5–6 million barrels per day, partially offsetting the shortfall in surface shipping. Meanwhile, crude loading volumes from other Gulf oil-producing countries have rebounded to 10.2 million barrels per day, partially hedging against the stagnation in Iranian exports. As US-Iran tensions shift toward economic sanctions, market focus is turning to the extent of the contraction in Iranian exports and the capacity for alternative supply" datetime: "2026-08-22T12:56:17.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296682552.md) - [en](https://longbridge.com/en/news/296682552.md) - [zh-HK](https://longbridge.com/zh-HK/news/296682552.md) generator: "portal-rs" --- # UBS Survey: Daily Flow Through the Strait of Hormuz Exceeded 6 Million Barrels Last Week Tensions between the United States and Iran persist, but market attention is gradually shifting from military risks to economic sanctions and their impact on the global crude oil supply landscape. According to Xinhua News Agency, US Treasury Secretary Bessent stated on the 20th that the Trump administration will increase economic pressure on Iran and threatened to impose "unprecedented economic isolation" measures. He said that the Trump administration's plan to severely damage Iran's economy might make it unnecessary for the US to launch large-scale military operations against Iran. As sanctions may intensify, their impact on Iranian crude oil exports is becoming a new variable of market concern. Meanwhile, visible tanker traffic through the Strait of Hormuz remains significantly below pre-conflict levels, but "dark fleet" shipments are partially filling the gap. UBS survey data shows that **overall oil flow through the Strait of Hormuz last week remained slightly above 6 million barrels per day, with dark fleet shipments rising to approximately 5–6 million barrels per day, indicating that the actual impact on crude oil transit volumes may be less severe than what surface shipping data suggests.** More notably, as Iranian supply remains constrained, crude loading volumes from other Gulf oil-producing countries are recovering rapidly. The current market challenge is not simply a sudden drop in total supply, but rather a restructuring of regional crude oil supply patterns. ## Visible Tanker Traffic Remains Low According to UBS Evidence Lab data, an average of 4.0 oil and gas vessels transited the Strait of Hormuz over the past two days, higher than the August average of 3.7 but significantly lower than the July average of 6.4. Estimated by deadweight tonnage, Gulf export flows over the past two days were approximately 1.5 million barrels of oil equivalent per day, which is not only lower than the August average of 1.9 million barrels of oil equivalent per day but also far below the July average of 3.6 million barrels of oil equivalent per day. However, tank storage and loading data indicate that "dark fleet" shipment volumes rose to 5–6 million barrels per day last week, partially compensating for the decline in visible transport and keeping the total transit volume through the Strait of Hormuz slightly above 6 million barrels per day. **Vessel traffic through the Bab el-Mandeb Strait is also below normal levels, but import and export flows in the Red Sea direction have recently rebounded.** At the same time, crude loading from other Gulf oil-producing countries is showing significant recovery. Over the past two days, **the average crude loading volume from non-Iranian Gulf oil-producing countries rose to 10.2 million barrels per day, far exceeding the 3.6 million barrels per day recorded in the previous two days and surpassing the July average of 4.5 million barrels per day; the 7-day average since August has exceeded 6 million barrels per day, reaching a high since the onset of the conflict.** In sharp contrast, Iranian crude loading volumes remain at extremely low levels. Iran recorded zero loadings during the same period, with an August average of only about 200,000 barrels per day, lower than July's 900,000 barrels per day, and significantly below the normal level of approximately 1.7–1.8 million barrels per day. **This indicates that Gulf supply is currently showing clear structural differentiation: Iranian exports remain constrained, while other producing countries are increasing loading volumes to partially hedge against the supply gap.** ## Energy Supply Still Faces Disruptions Meanwhile, multiple rounds of disruptions previously affecting regional energy infrastructure remain an important background for market assessment of supply risks. Some Gulf energy facilities and refining capacities were affected by attacks. Although some capacity has gradually recovered, these disruptions continue to keep Gulf crude oil and refined product transportation below normal levels. Therefore, **the key focus for the market has shifted from single events to supply recovery capabilities: on one hand, whether new US sanctions can further compress Iranian crude oil exports; on the other hand, whether other Gulf oil-producing countries can sustainably increase supply to fill the gap left by Iran.** If Iranian exports contract further and alternative capacity release is insufficient, supply pressure in the crude oil market may continue to rise, and changes in transportation through the Strait of Hormuz will become an important observation window for oil prices. ### Related Stocks - [UBS.US](https://longbridge.com/en/quote/UBS.US.md) - [BNO.US](https://longbridge.com/en/quote/BNO.US.md) - [SCO.US](https://longbridge.com/en/quote/SCO.US.md) - [UCO.US](https://longbridge.com/en/quote/UCO.US.md) - [USO.US](https://longbridge.com/en/quote/USO.US.md) - [GUSH.US](https://longbridge.com/en/quote/GUSH.US.md) - [DRIP.US](https://longbridge.com/en/quote/DRIP.US.md) ## Related News & Research - [Oil prices steady as investors assess US-Iran war outlook](https://longbridge.com/en/news/296417823.md) - [W.Africa Crude - Market quiet, awaiting loading programs](https://longbridge.com/en/news/296384200.md) - [Oil edges up on uncertainty over exports through Hormuz](https://longbridge.com/en/news/296282399.md) - [Oil extends climb on prolonged Hormuz export uncertainty](https://longbridge.com/en/news/296302371.md) - [Oil set for second weekly rise as unsettled US-Iran war crimps supply](https://longbridge.com/en/news/296555193.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**