Iraq and UAE accelerate pipeline projects as Strait of Hormuz stays closed

Iraq and the UAE are accelerating construction of alternative oil pipelines to reduce reliance on the Strait of Hormuz. The strait remains effectively shut, according to @FirstSquawk.

Pipeline plans The two countries aim to move crude through routes that avoid the waterway. Officials have not released timelines or capacity figures for the projects.

Regional context The strait serves as a key transit point for oil shipments from the Persian Gulf. Closure of the passage has prompted governments to seek overland alternatives.