The Iranian Islamic Revolutionary Guard Corps stated that since the closure of the Strait of Hormuz, the United States and its allies have been using a series of alternatives to mitigate the full impact on the global economy and oil prices. However, these alternatives are now failing one by one.
First was the U.S. Strategic Petroleum Reserve, which the U.S. had used to fill some market supply gaps. But the reserves have now fallen to approximately 285 million barrels, the lowest level since 1982. Second was Saudi Arabia's East-West Pipeline. This pipeline, which could transport 4 to 5 million barrels of crude oil daily from eastern Saudi Arabia to Yanbu on the Red Sea coast, completely bypassing the Strait of Hormuz, has ceased operation after the attack.
Now it's Fujairah's turn. This is the last major energy route in the Persian Gulf region, capable of transporting more than 1 million barrels of oil daily to the global market without passing through the Strait of Hormuz. Fujairah is not only a port but also a large oil storage and refueling center, handling more than 1.7 million barrels of crude oil and refined products daily. Therefore, Fujairah has now become the last link in a series of alternative routes that previously helped the United States mitigate the impact of the closure of the Strait of Hormuz.
