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Risk Migrates Beyond Hormuz: Freight, Not Barrels, Is Where the Market Is Now Repricing
Iran's claim of seven vessels struck — four in the northern Gulf, three on mines west of Hormuz — lands a day after Washington ordered non-emergency staff out of Saudi missions, a step US officials cited by Reuters said would also bring family departures from other Gulf posts, though State Department spokesperson Tommy Pigott says the order covers Saudi Arabia only and describes reports of wider Gulf withdrawals as inaccurate. Yet Middle East crude exports excluding Iran are running above pre-war levels in the latest weekly reading. The contradiction is the story: volumes are being sustained…
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