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strikeSep 3, 2026

Asia looks to store oil, gas closer to home after Strait of Hormuz crisis

Summary

Asia looks to store oil, gas closer to home after Strait of Hormuz crisis Asian economies are racing to build up storage capacity to reduce their exposure to conflict in the Middle East. Asia suffered some of the worst economic fallout when the United States and Israel went to war with Iran six months ago.

Source: Erin Hale — Read the full report

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  • Erin HaleBy Erin Hale

    Asia looks to store oil, gas closer to home after Strait of Hormuz crisis Asian economies are racing to build up storage capacity to reduce their exposure to conflict in the Middle East. Asia suffered some of the worst economic fallout when the United States and Israel went to wa…

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strikeUnverifiedIranProxy
○ 1 source

Iran’s Islamic Revolutionary Guard Corps (IRGC) navy states that three tankers caught fire in the Strait of Hormuz after hitting mines, while another vessel struck naval mines in the eastern part of the waterway. Separately, Yemen’s Houthi forces claim six military operations targeting Saudi Arabian airports and oil facilities, including refineries in Ras Tanura and Rabigh as well as international airports in Riyadh and Dammam.

Location: Strait of Hormuz