Trump’s Hormuz gambit
Investors remain skittish and energy prices remain volatile as the US Navy continues its blockade of Iranian ports.
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As the US Navy continues its blockade of maritime traffic to and from Iranian ports and shipping through the Strait of Hormuz holds at a trickle, investors remain skittish and energy prices volatile. Gulf energy producers are ramping up alternative export routes that bypass the strait, such as Saudi Arabia maximizing its East-West oil pipeline and the UAE rerouting crude through its Abu Dhabi-Fujairah pipeline.
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