Iran War Spurs Scramble for Energy Export Routes Out of Gulf (2)

The widening conflict in the Middle East is stoking fears over a global energy crunch as exporters scramble for routes out of the region while a swath of refineries reduce output.

More oil tankers are diverting away from the Persian Gulf and toward the Red Sea, where Saudi Arabia is increasing crude loadings at the port of Yanbu. The near-halt of traffic through the Strait of Hormuz is causing storage tanks across the region to top out, while drone and missile attacks have targeted refineries in Saudi Arabia, Kuwait and Bahrain, prompting several to cut capacity.