Iran official says Gulf attacks could target facilities handling 5.5 million barrels daily

Iran is reviewing an economic war plan that could target Saudi Arabia’s Yanbu pipeline and the UAE’s Fujairah oil terminal, key export routes that bypass the Strait of Hormuz, Odaily reported on Aug. 21. The facilities handle about 5.5 million barrels of crude a day combined, while roughly 5 million barrels a day move through Hormuz. The stated aims include lifting international crude and U.S. gasoline prices and increasing political pressure on President Donald Trump’s party before the November U.S. midterm elections. With Brent crude near $93 a barrel, traders could view credible attacks on Yanbu or Fujairah, especially alongside a Hormuz disruption, as a far larger shock than supply interruptions already in place.

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