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Iran's Oil Leverage Fading | Wilmington News
Iran’s latest moves in the Strait of Hormuz are rattling oil markets—but the world’s response is rewriting the script. After threatening shipping lanes and jolting prices, the U.S. has shut down a previous deal and warned of blockades if attacks continue. Yet global oil supply is rebounding, thanks to OPEC+, Gulf producers ramping up, and new shipping routes bypassing the strait entirely. Saudi Arabia’s Red Sea pipelines and UAE’s Fujairah terminals are rerouting millions of barrels, while ships now hug Oman’s coast to stay out of Iran’s reach. While Iran can still stir short-term chaos, its…
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