loading
loading
Saudi Arabia is looking to boost oil shipments through the Strait of Hormuz after drone attacks took out a key pipeline bypassing the contested waterway. Saudi stocks suffered their largest intraday fall since April after extensive damage to the East-West pipeline, which is responsible for 4% of global crude supplies. But Saudi attempts to lift Hormuz transits may be limited by a ship shortage; the cost of hiring a tanker on the benchmark Gulf-China route topped $1 million for the first time Monday. The UK is reportedly considering helping the kingdom fight the Houthis, underscoring Europe’s concerns about a worsening energy crisis as it heads into winter. “Saudi Arabia now finds itself on the frontline,” a Financial Times columnist wrote.
document fetched 2026-09-15 02:51 · canonical https://semafor.com/article/09/14/2026/saudi-arabia-eyes-more-tanker-transits-through-strait-of-hormuz