XLE & Oil

HSBC Sees Hormuz Becoming Redundant in Five Years

OilPrice.com·Oct 20, 2026 · 8:30 AM CT
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Speaking at the HSBC Future Forum 2026 in Dubai on Tuesday, HSBC Group CEO Georges Elhedery said Hormuz "probably in five years' time, may become redundant," Reuters reported.

His view rests on Middle Eastern producers adding or building pipeline capacity to bypass the strait and export from Red Sea and Mediterranean ports.

Before the Iran war began in late February, the Strait of Hormuz handled about a fifth of global oil flows.

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