AGP Executive Report
Last update: 10 hours agoSaudi Escalation: Riyadh’s main airport remains closed after a Houthi missile strike killed 12 and injured more than 300. The Saudi-led coalition vowed a decisive response, while President Trump said he is weighing US involvement—raising the risk to regional shipping and energy flows. Hormuz Disruption: A US fighter jet disabled a cargo ship near Iran after it tried to breach the US blockade. A tanker also caught fire in the Strait of Hormuz after reportedly striking a mine; tanker rates have surged to record levels as traffic and oil supplies come under pressure. Oil and Environment: Iran’s foreign minister warned that attacks on oil facilities and refineries risk long-lasting soil and water contamination. Alternative Routes: Iraq expects talks on a pipeline linking Haditha to Syria’s Mediterranean coast to conclude by year-end, potentially opening an export route outside the Gulf. Cyprus also plans to raise Turkey’s proposed undersea gas pipeline with EU counterparts.
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