Saudi Arabia to Benefit from Oil Price Surge Amid Hormuz Blockade
The blockade of the Strait of Hormuz is boosting Saudi Arabia's oil revenues as it reroutes exports through the Red Sea, while Gulf neighbors like the UAE face losses. Goldman Sachs estimates Saudi weekly revenue rose by 10%, compared to a 25% drop in the UAE.
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Topics: Goldman Sachs analysis Hormuz blockade oil prices Saudi Arabia UAE