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Amos Hochstein (TWG Global) tells CNBC that Saudi Arabia and the UAE are spending billions to make Hormuz irrelevant because they do not expect the strait to reopen or Iran to give up control.
Saudi and the UAE and others are spending billions of dollars on making the strait eventually irrelevant, right? Building massive infrastructure.
WTI crude since this was said: ▲ +13.9% · 81.25 → 92.54 · as of 2026-09-08
Amos Hochstein (TWG Global) tells CNBC that Saudi Arabia and the UAE spending billions to make the Strait of Hormuz irrelevant shows they expect Iran to keep control and the strait not to reopen.
Saudi and the UAE and others are spending billions of dollars on making the strait eventually irrelevant, right? Building massive infrastructure. You don't spend that kind of money, and this is serious money, if you think that the straits reopened or that Iran is gonna give up the control.
WTI crude since this was said: ▲ +13.9% · 81.25 → 92.54 · as of 2026-09-08
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