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Mideast oil producers step up plans to bypass the Strait of Hormuz

Mideast oil producers step up plans to bypass the Strait of Hormuz

Before the war in Iran, roughly 15 million barrels of Persian Gulf oil were shipped each day through the Strait of Hormuz

Gulf Oil Producers Develop Alternatives to Strait of Hormuz Amid Rising Tensions

Gulf Oil Producers Develop Alternatives to Strait of Hormuz Amid Rising Tensions

Gulf oil producers are accelerating efforts to develop alternative routes for oil exports as tensions in the Strait of Hormuz continue to rise. With the strait largely closed due to conflict, oil prices have surged, prompting countries like Saudi Arabia and the UAE to explore new pipeline projects. These projects aim to bypass the strait by utilizing routes through the Red Sea, the Suez Canal, and the Gulf of Oman. The ongoing conflict in the region has highlighted the vulnerabilities of relying heavily on the Strait of Hormuz for oil transportation.

Brent hovers above $100/bbl, set for weekly rise on Middle East escalation

Brent hovers above $100/bbl, set for weekly rise on Middle East escalation

By Colleen Howe and Siyi Liu BEIJING/SINGAPORE, July 24 (Reuters) - Brent oil prices hovered above $100 per barrel on Friday while heading for their fourth week of gains, driven by concerns about disrupted energy flows in the Red Sea and fears of further escalation in the U.S.-Israeli war on Iran.

Trump vows to punish Iran and Houthis for attacks in Red Sea

Trump vows to punish Iran and Houthis for attacks in Red Sea

By Elwely Elwelly, Ahmed Elimam and Eman Abouhassira DUBAI, July 24 (Reuters) - U.S.

Gulf Nations Invest Billions in Alternative Oil Export Routes Amid Strait of Hormuz Vulnerabilities

Gulf Nations Invest Billions in Alternative Oil Export Routes Amid Strait of Hormuz Vulnerabilities

Gulf countries, including the UAE and Iraq, are investing billions in developing alternative oil export routes to reduce reliance on the Strait of Hormuz. This strategic shift is driven by repeated disruptions in oil supplies and the geopolitical vulnerabilities associated with the strait. New pipeline projects are underway to connect oilfields to ports on the Gulf of Oman, the Red Sea, and the Mediterranean. These efforts aim to secure oil exports and mitigate risks associated with the narrow waterway, which is a critical global oil gateway.

Red Sea Attacks Push Brent Oil Prices Above $100 Amid US-Iran Tensions

Red Sea Attacks Push Brent Oil Prices Above $100 Amid US-Iran Tensions

Brent oil prices have surged past $100 per barrel following attacks on Saudi oil tankers in the Red Sea by the Houthi militant group. The Houthis, backed by Iran, have declared a blockade on Saudi vessels, escalating tensions in the region. This development threatens the Red Sea as a critical alternative route for oil exports, as the Strait of Hormuz remains a conflict zone. The attacks have raised concerns about further disruptions in global oil supply, contributing to market volatility. The situation is part of the broader US-Iran conflict, with President Trump holding Iran responsible for the Houthi actions.

Brent Crude Oil Hits $100 Amid Red Sea Tensions and Houthi Attacks

Brent Crude Oil Hits $100 Amid Red Sea Tensions and Houthi Attacks

Brent Crude Oil Hits $100 Amid Red Sea Tensions and Houthi Attacks

Houthis say they attacked 2 Saudi oil tankers in the Red Sea as US carries out 12th night of strikes

Houthis say they attacked 2 Saudi oil tankers in the Red Sea as US carries out 12th night of strikes

Yemen’s Iran-backed Houthi rebels says they have attacked two Saudi oil tankers in the Red Sea, and the U.S. military said it conducted a 12th night of strikes against Iran as the two countries vie for control of vital shipping lanes

US strikes Iran for 10th consecutive night as Tehran strikes tanker in the Strait of Hormuz

US strikes Iran for 10th consecutive night as Tehran strikes tanker in the Strait of Hormuz

Iran has attacked a tanker in the Strait of Hormuz, forcing its crew to abandon the ship

Tankers with Saudi crude turn back as Houthis open new front in US-Iran war

Tankers with Saudi crude turn back as Houthis open new front in US-Iran war

By Jana Choukeir, Nayera Abdallah and Elwely Elwelly DUBAI, July 21 (Reuters) - Two oil tankers carrying Saudi crude to Asia reversed course in the Red Sea on Tuesday after threats from Yemen's Iran-aligned Houthis, as a widening Middle East conflict disrupted shipping through two of the world's

Rubio says US still willing to negotiate over Iran crisis

Rubio says US still willing to negotiate over Iran crisis

DUBAI/MANILA, July 22 (Reuters) - U.S. Secretary of State Marco Rubio said on Wednesday the United States is still willing to negotiate an end to the Iran crisis but Tehran is not serious about talks, as the widening conflict disrupted two of the world's most critical energy chokepoints.

Oil prices rise to five-week high on US-Iran attacks, Houthi blockade threat

Oil prices rise to five-week high on US-Iran attacks, Houthi blockade threat

By Scott DiSavino NEW YORK, July 21 (Reuters) - Oil prices climbed about 2% on Tuesday to a five-week high, on worries that energy supply disruptions could worsen in the Middle East due to more attacks between the U.S. and Iran and a threatened naval blockade of Saudi Arabia by Yemen's Houthis.