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07.08.26 - 20:36
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Saudi Arabia′s $5 Oil Detour Is Expensive... But Worth It (ZeroHedge)
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Saudi Arabia's $5 Oil Detour Is Expensive... But Worth It
Authored by Leon Stille via OilPrice.com,
Rerouting Saudi crude to Asia via Yanbu, Egypt's SUMED pipeline and the Cape of Good Hope may add around $5 per barrel and up to four weeks to a voyage.
That premium is small compared with the economic damage caused by losing access to Hormuz or Bab el-Mandeb altogether.
Saudi Arabia's alternative export infrastructure is not a temporary workaround but a strategic asset—although it cannot replace the kingdom's wider need to diversify beyond oil.
The latest Saudi oil route looks absurd on a map.
Crude moves west across Saudi Arabia to Yanbu, north through the Red Sea to Egypt, across the SUMED pipeline from Ain Sokhna to Sidi Kerir, then west through the Mediterranean before tankers sail around the Cape of Good Hope to reach customers in Asia.
Oil that started relatively close to Asia first travels thousands of kilometres in the opposite direction.
The detour reportedly adds ar...
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07.08.26 - 15:16
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Saudi Arabia, Turkey, Pakistan Sign Islamic NATO-Style Defense Pact Amid Iran War (ZeroHedge)
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Saudi Arabia, Turkey, Pakistan Sign Islamic NATO-Style Defense Pact Amid Iran War
On Friday Saudi Arabia, Turkey and Pakistan signed a major defense agreement as leaders gathered in the city of Makkah, Saudi Arabia. It seeks to strengthen joint deterrence and expanding defense cooperation, the Saudi Press Agency reported.
It is essentially a NATO-style agreement for the 'Muslim world' - given that it stipulates and formalizes that an armed attack on any of the countries will be treated as an attack against all of them.
Formally called the Makkah Joint Defense Agreement, it "reflects the three nations' commitment to bolstering their collective security and promoting peace, security and stability in the region and the wider world," SPA reported.
The combined estimated population of these Muslim-majority countries is 380 million people, or according to the high estimates... approaching 400 million.
Al Jazeera comments on the significance of the historic pact as follows:
This is mor...
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