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0.000236760579667707 0.000115641414233492 -6.08639022285181E-06 -0.000188678096907541 -0.000310405901364058 -0.00055386151027692 -0.00055386151027692 -0.00055386151027692
Stock impact report

Saudi Arabia's Red Sea Export Route Is No Escape from Risk [Yahoo! Finance]

Exxon Mobil Corporation (XOM) 
Last exxon mobil corporation earnings: 5/1 07:34 am Check Earnings Report
US:NYSE Investor Relations: ir.exxonmobil.com
Company Research Source: Yahoo! Finance
strikes that the U.S. and Israel launched on Iran on February 28. Exports have been paralysed almost completely, and Iran is charging $2 million for every vessel it lets pass through the Strait of Hormuz. Saudi Arabia, however, has an alternative: a pipeline that was built for just such a situation. The East-West pipeline leads to Saudi Arabia's Red Sea port city of Yanbu. The pipeline is 1,200 km long, and it was initially built in the 1980s, during the Iran-Iraq war that also threatened to disrupt traffic in the Persian Gul although it never came close to the closure of the Strait of Hormuz that has now sent the world reeling. Maximum capacity stands at 7 million barrels daily after a series of upgrades over the years, yet average flows are lower, even now. According to figures cited by Bloomberg , last week loadings from Yanbu averaged 4 million barrels daily, with tankers essentially standing in line to load Saudi crude from the Red Sea port. Data from Kpler, quoted earlier th Show less Read more
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