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Gulf oil producers race to build alternatives to the Strait of Hormuz as oil nears $100

Gulf oil producers race to build alternatives to the Strait of Hormuz as oil nears $100

Before the war, roughly 15 million barrels of Gulf oil passed through the Strait of Hormuz every day, as roughly a fifth of the world’s traded oil moved through the maritime chokepoint in peacetime. With the channel still largely closed and prices... Read more.

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