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Key Saudi Oil Pipeline Damaged in Drone Attack
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Industry analysts have for months touted pipeline routes that avoid the Strait of Hormuz as a way to insulate the market from conflict. One of those pipelines may be shuttered for weeks because of drone attacks.
By Brian Ford, Editor-in-Chief
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Have you considered the cruelty of the timing? Markets price an 88% chance of a Fed hike amid an oil shock -- tightening against cost-push. The IEA's answer to scarcity is coal. A Chinese decoupling study warns third-party gains stay fragile.
Natural gas whispers something similar: October Henry Hub futures at $2.902 on record 19.6 Bcf/d feed-gas, Qatari cargoes stranded, and buyers bidding up whatever molecules still arrive.
So what deserves your attention? Not the barrel -- the bottleneck. And behind it, the underwriters, crews, and reroutes that decide whether a cargo is priced or simply impossible.