business π’ Iran war sparks massive oil pipeline boom
The conflict involving the U.S., Israel, and Iran severely disrupted Persian Gulf oil flows, inflating global import bills by $330 billion from March to August. Saudi Arabia rerouted exports, initially via pipeline to the Red Sea, then to the Suez Canal due to Houthi risks. The UAE plans to double Fujairah pipeline capacity to 3.6 million barrels daily, with TotalEnergies participating. Iraq is exploring repairs on an old Syria pipeline and expanding via Turkey. Nations are prioritizing port infrastructure as alternative routes reshape Middle East risk. π’