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Bessent: Hormuz 'worthless' as pipelines bypass it; US downplays chokepoint risk
Yonhap ENLO·US · IR·about 10 hours ago
War between US/Israel and Iran has severely disrupted Persian Gulf oil and gas flows, inflating global energy import bills by $330 billion over six months. In response, energy-importing nations are accelerating investment in alternative pipeline and port infrastructure to bypass the Strait of Hormuz. The shift signals a structural re-routing of Middle East energy supply, with long-term implications for tanker demand and regional geopolitics.
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