Hormuz October transits 750... VLCCs 156

Hormuz Strait transits rose to 750 in October from 741 in September, but very large crude carrier (VLCC) passages fell to 156 from 184, according to S&P Global's tally, which blends observed and estimated crossings. Dry bulk transits climbed to 149, the highest since June, while LNG carrier passages hit 32, the most in any month since the war began, and LPG carrier transits slipped to 36 from 40. The divergence matters because overall counts can mask shifts in tanker traffic that drive crude flows through the world's most important oil chokepoint. Watch next month's VLCC figure for signs of a sustained pullback in crude movements, and note that transit counts track vessel numbers rather than actual cargo volumes.