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Euronews
Euronews
Quirino Mealha

Gulf oil producers race to build alternatives to the Strait of Hormuz as oil hits $100

Before the war, roughly 15 million barrels of Gulf oil passed through the Strait of Hormuz every day, as around a fifth of the world's traded oil moved through the maritime chokepoint in peacetime.

With the channel still largely closed and prices elevated, at least seven major pipeline projects are now under construction, in planning or under discussion to push supplies out through the Red Sea, the Suez Canal and the Gulf of Oman instead, according to Gulf officials, energy companies and market analysts.

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