Middle East Pipelines Become Lifelines Amid Strait of Hormuz Crisis
Image Source: Internet
Two pipelines built in Saudi Arabia and the United Arab Emirates are the only ways to get a significant amount of oil out of the Persian Gulf into world markets, bypassing the Strait of Hormuz.
The Saudi pipeline, which can't replace tanker ship flows, is pumping as much crude as possible through its Red Sea port of Yanbu, built in the 1980s.
State oil producer Saudi Aramco expects to send a maximum of 7 million barrels of oil through the 746-mile-long pipeline within a few days.
The smaller Emirati pipeline transports crude from Abu Dhabi to the port of Fujairah on the Gulf of Oman.
Oil flows through the waterway ticked higher Monday, but analysts say there isn't much to stop Tehran from targeting the Saudi and Emirati pipelines.
Crude prices fell Tuesday, extending a retreat sparked by President Trump's comment that the war would be over 'very soon.'
