Saudi energy giant Aramco is considering alternative oil export routes due to the vulnerability of the Strait of Hormuz to Iranian attacks, Reuters reports. Industry sources say a pipeline to the Red Sea ports is a possible option.
Iran is carrying out air strikes on the fuel and energy industry of the Arab Gulf states, which threatens the stability of the world economy. He has also repeatedly reported the closure of the Strait of Hormuz, through which about 25% of oil and 20% of liquefied gas trade passes.
Iran’s actions led to an increase in prices not only for energy resources, but also for their transportation. Insurance companies may refuse to insure cargo traveling through the Persian Gulf.