# Dependence on Hormuz Strait Declines Global oil markets are turning to alternative routes. - **Source:** [Fortune](https://fortune.com) - **Published:** 2026-07-19 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/7d9beb8c-af98-432a-8f5a-a3d6b997bce5 ## The Importance of Hormuz Strait The Strait of Hormuz is a strategic waterway through which about 20% of the world's oil trade passes. Under Iran's control, it plays a critical role in global energy security. ## US Alternative Route The US attempted to create an alternative route to bypass Iran-controlled Hormuz Strait. However, Iran's drone and missile attacks have deterred commercial ships from using this route. ## Solutions from Other Countries Saudi Arabia and the UAE are using road and rail routes for oil transportation. Thousands of trucks are transporting oil from Iraq to Syria. ## New Pipelines The UAE's new West-East pipeline and Saudi Arabia's East-West pipeline expansion projects are ongoing. These projects aim to reduce dependence on Hormuz Strait. ## Turkey's Role Turkey has proposed extending the Kirkuk-Ceyhan pipeline to Basra Gulf. This project could create an alternative export channel to the Mediterranean. ## Future Predictions According to Goldman Sachs, Middle East pipeline capacity will increase in the coming years, reducing dependence on Hormuz Strait to below 60%. This is a significant shift for the global oil market. ## Sources covering this story - https://fortune.com/2026/07/19/global-oil-market-post-iran-export-offsets-hormuz-new-pipline-capacity/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._