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Good analysis from @brett_mcgurk:
"... Across the Middle East, governments and energy companies are accelerating pipelines, ports and transportation corridors designed to move oil, gas and goods around Hormuz [...]. The energy map of the Middle East is being redrawn
🇸🇦Aramco built a reroute to avoid Hormuz and the Red Sea entirely.
Yanbu to Ain Sokhna, through the SUMED pipeline, out through Sidi Kerir, then around the Cape of Good Hope to reach Asia.
That workaround now costs about 5 dollars a barrel more in freight, insurance, and