Mideast oil may soon have no way out amid ‘everything everywhere all at once’ wars, but the crisis in refined products is even worse
Fighting across the oil-producing world is catching up with energy markets, which could soon be choked off by multiple chokepoints and shortages.Recommended Video Over the weekend, the U.S. and Iran have paused their attacks on each other in the Persian Gulf while they engage in diplomacy. Iran and Oman are also in separate talks to reopen the Strait of Hormuz. But the U.S. and Iran’s neighbors are unlikely to accept any deal that recognizes Tehran’s control over the narrow waterway.
- ▪Fighting across the oil-producing world is catching up with energy markets, which could soon be choked off by multiple chokepoints and shortages.Recommended Video Over the weekend, the U.S. and Iran have paused their attacks on each other i
- ▪Iran and Oman are also in separate talks to reopen the Strait of Hormuz.
- ▪But the U.S. and Iran’s neighbors are unlikely to accept any deal that recognizes Tehran’s control over the narrow waterway.
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Fighting across the oil-producing world is catching up with energy markets, which could soon be choked off by multiple chokepoints and shortages.Recommended Video Over the weekend, the U.S. and Iran have paused their attacks on each other in the Persian Gulf while they engage in diplomacy. Iran and Oman are also in separate talks to reopen the Strait of Hormuz. But the U.S. and Iran’s neighbors are unlikely to accept any deal that recognizes Tehran’s control over the narrow waterway. Meanwhile, Iran-backed Houthi rebels are threatening ships in the Bab el-Mandeb Strait, which Saudi Arabia has relied on to export its oil and bypass the Strait of Hormuz.
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