SECURITYTHE HILL
Strait of Hormuz oil supply crunch has countries looking for workarounds
Middle Eastern nations are constructing oil shipping infrastructure to bypass the Strait of Hormuz, a critical chokepoint for global oil supply. Iran's blockade of the waterway has disrupted markets and impacted global oil flow, which previously accounted for about 20 percent of daily consumption.
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- Ships Remain Largely Blocked in Strait of Hormuz
- Gulf states in talks for oil pipelines to bypass Hormuz
- Global oil inventories to fall below 100 days of demand on Hormuz blockade
- Crude oil is going the long way around the world as countries scramble to plug Hormuz supply hole
- Trump blockade squeezing Iran so hard regime may be dumping oil into Gulf, experts say
- Trump pitches Iran blockade as boon to U.S. oil