Both Gulf Corridors Under Fire: The Chokepoint Arithmetic Washington Hoped Would Not Add Up

Both Gulf Corridors Under Fire: The Chokepoint Arithmetic Washington Hoped Would Not Add Up The Saudi bypass route is now under attack. The math that kept oil markets from the worst case no longer works. Key Takeaways: Houthi forces struck two Saudi tankers and declared a naval blockade of Saudi exports via Bab el-Mandeb, the route Saudi Arabia had been using to bypass Hormuz. Total non-Hormuz pipeline bypass capacity is roughly 8.7 mb/d against Hormuz's pre-war 20 mb/d throughput, with no quick fix available. Trump's Truth Social pledge to pay shipping damages from frozen Iranian money runs into a legal architecture that authorizes freezing, not seizing, under IEEPA. Every sovereign holding…