As the U.S.-Israeli conflict with Iran continues into its fourth week, oil and gas markets are facing significant disruptions due to the near-complete halt of shipping traffic through the Strait of Hormuz, a critical route for global energy trade. Iran has restricted access to the strait, allowing only select vessels to pass. In response, Middle Eastern countries are considering alternative pipelines, including Saudi Arabia’s East-West Pipeline, which has increased its output but cannot fully compensate for the loss from Hormuz.
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