Iran strikes US positions in Jordan, US answers with strikes across IranUS and Saudi jets strike Iraqi PMF bases, at least 20 killedKumamoto earthquake: death toll rises to 18 as rescuers search mall and factoryFed holds rates at 3.50 to 3.75 percent, three officials vote for a hikeOil Jumps About 8 Percent as Strikes Slow Hormuz Tanker TrafficRussian missile attacks on Kyiv, Lviv, Kryvyi Rih and Poltava kill at least eightIran rejects Omani Hormuz plan as US tightens naval blockadeThree Greek firefighters die as fires near Bordeaux and Madrid are containedIsrael strikes Gaza City mosque as health ministry counts 60,700 orphansPentagon awards over $120bn for missiles and submarines as interceptor stocks fallUS bans new foreign robot and inverter imports, China vows countermeasuresTwo gas tankers burn at Egypt's Damietta port after apparent drone strikeTrump and Zelensky discuss reviving Russia talks; Lavrov hardens toneOpenAI says rogue agent entered four more services besides Hugging FaceHouthis strike Saudi ships as Riyadh seeks Red Sea coalitionAI spending splits Big Tech results: Meta falls, Microsoft jumpsNetanyahu offers to phase out US military aid, doubts Iran dealChina test-launches advanced hypersonic missileSouth Korean stocks fall 16% in two days as chip selloff deepensIsrael seizes West Bank land to link two settlementsRussia charges Telegram founder Durov and issues arrest warrantIsrael accuses Hezbollah of drone attack, bombards NabatiehSamsung profit hits record on AI memory shortageUkrainian drones hit Ryazan refinery and warehouse inside RussiaUS Senate advances Russia and Iran sanctions billEU to put ChatGPT and Roblox under strictest platform rulesTrump cuts WHO out of Gavi funding as HIV warnings mountAttack on police post in Khyber Pakhtunkhwa kills at least 15China pushes hukou reform for 358 million internal migrantsChild dies after gene-editing therapy in ChinaBMW to cut 8,000 jobs after China sales slumpTrump keeps tariff regime as some firms return to ChinaRussia and North Korea near completion of first direct road linkCuba opens agriculture and banking to private businessNextEra and Brookfield plan $100 billion data centre campus in KentuckyUS sanctions Chinese and Hong Kong shipping firms over Iranian oilUefa revolts against Fifa's $4.2 billion World Cup stake saleClashes as voting starts in Pakistani-administered KashmirTrump again backs F-35 sale to TurkeyRussian report puts Ukraine's port losses at $70 million a dayMoonshot AI valued at $35 billionStudy puts Caribbean climate disaster damage at $53 billionBolivian court orders arrest of Evo MoralesBukele files for third term as El Salvador scraps term limitsMoscow calls Ukrainian strike on Iranian ship a terrorist actUS-Saudi consortium plans $5 billion refinery outside HormuzChina opens new five-year plan periodCourts in Britain and the US convict two in Iran-linked casesGermany argues over security failures after Berlin CSD attackGeorgian crackdown has silenced 80 percent of NGOsIran strikes US positions in Jordan, US answers with strikes across IranUS and Saudi jets strike Iraqi PMF bases, at least 20 killedKumamoto earthquake: death toll rises to 18 as rescuers search mall and factoryFed holds rates at 3.50 to 3.75 percent, three officials vote for a hikeOil Jumps About 8 Percent as Strikes Slow Hormuz Tanker TrafficRussian missile attacks on Kyiv, Lviv, Kryvyi Rih and Poltava kill at least eightIran rejects Omani Hormuz plan as US tightens naval blockadeThree Greek firefighters die as fires near Bordeaux and Madrid are containedIsrael strikes Gaza City mosque as health ministry counts 60,700 orphansPentagon awards over $120bn for missiles and submarines as interceptor stocks fallUS bans new foreign robot and inverter imports, China vows countermeasuresTwo gas tankers burn at Egypt's Damietta port after apparent drone strikeTrump and Zelensky discuss reviving Russia talks; Lavrov hardens toneOpenAI says rogue agent entered four more services besides Hugging FaceHouthis strike Saudi ships as Riyadh seeks Red Sea coalitionAI spending splits Big Tech results: Meta falls, Microsoft jumpsNetanyahu offers to phase out US military aid, doubts Iran dealChina test-launches advanced hypersonic missileSouth Korean stocks fall 16% in two days as chip selloff deepensIsrael seizes West Bank land to link two settlementsRussia charges Telegram founder Durov and issues arrest warrantIsrael accuses Hezbollah of drone attack, bombards NabatiehSamsung profit hits record on AI memory shortageUkrainian drones hit Ryazan refinery and warehouse inside RussiaUS Senate advances Russia and Iran sanctions billEU to put ChatGPT and Roblox under strictest platform rulesTrump cuts WHO out of Gavi funding as HIV warnings mountAttack on police post in Khyber Pakhtunkhwa kills at least 15China pushes hukou reform for 358 million internal migrantsChild dies after gene-editing therapy in ChinaBMW to cut 8,000 jobs after China sales slumpTrump keeps tariff regime as some firms return to ChinaRussia and North Korea near completion of first direct road linkCuba opens agriculture and banking to private businessNextEra and Brookfield plan $100 billion data centre campus in KentuckyUS sanctions Chinese and Hong Kong shipping firms over Iranian oilUefa revolts against Fifa's $4.2 billion World Cup stake saleClashes as voting starts in Pakistani-administered KashmirTrump again backs F-35 sale to TurkeyRussian report puts Ukraine's port losses at $70 million a dayMoonshot AI valued at $35 billionStudy puts Caribbean climate disaster damage at $53 billionBolivian court orders arrest of Evo MoralesBukele files for third term as El Salvador scraps term limitsMoscow calls Ukrainian strike on Iranian ship a terrorist actUS-Saudi consortium plans $5 billion refinery outside HormuzChina opens new five-year plan periodCourts in Britain and the US convict two in Iran-linked casesGermany argues over security failures after Berlin CSD attackGeorgian crackdown has silenced 80 percent of NGOs
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Symbolic image: US-Saudi consortium plans $5 billion refinery outside HormuzSymbolic image

US-Saudi consortium plans $5 billion refinery outside Hormuz

1 source

A US-Saudi consortium is advancing plans for an oil refinery worth $5 billion located outside the Strait of Hormuz, The National reports. Building permanent capacity beyond the chokepoint points to expectations of lasting risk for Gulf export routes.

Saudi Arabia United States

Iran war oil shock

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