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Navigating the Hormuz Conundrum

Navigating the Hormuz Conundrum

Only 2 Gulf states can pipe oil around Hormuz. Saudi Petroline is maxed at 7 mb/d; the UAE’s new Fujairah line won’t double capacity until 2027. Kuwait, Iraq, and Qatar have no exit — and LNG has none at all. For half a century, the Strait of Hormuz was...