Iran Losing Hormuz Leverage as Alternative Oil Routes Expand
🛢️ HORMUZ — Tehran's only uncontested card is being played out of its hand. 📌 LOOK CLOSER: Gulf exports via alternative routes have recovered to 12.8M bpd despite the formal blockade — and Saudi East-West Pipeline running at 3.5M bpd daily confirms the bypass. If Hormuz leverage erodes structurally, Iran loses its primary deterrent against post-midterm US strikes. Washington reads this before November 5; Tehran's negotiating floor just dropped.
