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Number of Oil Tankers Diverting Around Africa Rises

OIL

The number of oil tankers diverting around the cape of Good Hope continues to rise amid ongoing Houthi rebel attacks in the Red Sea, Oil Brokerage said.

  • Since the US and UK started air strikes targeting the Houthis, 133 oil tankers have diverted away from the Red Sea around the Cape of Good Hope.
  • This compares to 100 tankers diversions as of 30 January and 69 as of 24 January.
  • “Northbound crude/condensate transits via Bab el-Mandeb evaporated, with no barrels transiting northbound last week,” the note said.
  • Only Russian crude transited via the strait last week.
  • Clean petroleum product transits via Bab-el-Mandeb declined to 480kbpd last week, down from 2mbpd under normal conditions.
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