Gulf states seek to bypass Strait of Hormuz for oil exports via pipelines

Gulf states are seeking to bypass the Strait of Hormuz for oil exports by using pipelines, following an attack by Iran on the UAE port of Fujairah. This move comes as high oil prices pose a dilemma for central banks, potentially fueling inflation and slowing global growth. The situation highlights the geopolitical tensions and economic implications of disrupted oil supplies.

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