New UAE oil pipeline bypassing Hormuz 50% complete ahead of 2027 start

ADNOC chief Jaber's outlook among most pessimistic for return to normal Hormuz traffic

Iran's newly formed Persian Gulf Strait Authority releases a map claiming authority over the critical Strait of Hormuz.

His stark assessment, delivered at an Atlantic Council event on Wednesday, represents one of the most pessimistic outlooks from top industry executives amid stalling efforts on both sides to secure a peace agreement.

Prince Faisal also commended the ongoing mediation efforts led by Pakistan, describing them as important steps toward de-escalation amid heightened tensions in the region.