Iranian official: Plans to strike crude oil export facilities, aiming to hit Trump before US midterm elections

Odaily Planet Daily News A senior Iranian official said Tehran is planning to wage an economic war, including attacks on oil bypass export facilities in the Gulf region, in an effort to push up US gasoline prices and hit the approval ratings of Trump's party before the US November midterm elections. According to the official, the targets of this plan will include two major alternative routes used by shippers to avoid the Strait of Hormuz: the Yanbu pipeline in Saudi Arabia and the Fujairah oil terminal in the UAE. Together, these two facilities handle about 5.5 million barrels of oil per day. If Iran also cuts off the approximately 5 million barrels per day of oil that the US-backed "shadow fleet" currently transports through the Strait of Hormuz, a successful operation would weaken a considerable portion of alternative transport capacity—precisely the channels that have sustained some Gulf oil exports amid a broader blockade. Given that Brent crude prices are already near $93 per barrel under the current tensions, any credible action against Yanbu or Fujairah could be viewed by traders as a shock far larger than previous supply disruptions. (Jin Shi)