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Story summary
- Saudi Arabia and Gulf states are exploring land routes to cut reliance on Hormuz Strait while discussing expanding the East-West crude pipeline by two million barrels daily.
- Israel’s Energy Minister Eli Cohen has proposed a 700-kilometre pipeline from Saudi Arabia to Eilat to Trans-Israel pipeline.
- Since the June 17 ceasefire, Saudi shipments through Hormuz have totalled 34 million barrels, with transits at one-third of pre-war levels and insurance premiums eight times higher.
