US proposes $10bn fund with Arab allies to bypass Hormuz
Trump is in discussions about a fund that would build new energy infrastructure across the Middle East
Source: Financial Times
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DW NOTE
The Strait has been effectively closed for seven months. Oil fell 14% last week anyway. Now Washington wants $10 billion to build pipelines around a blockade the market has already priced in as irrelevant. If Hormuz mattered as much as the infrastructure spend implies, crude wouldn't be trading nearly 20% off its yearly high while tanker traffic runs at 9% of normal.