Iran Eyes Oil Export Bypass Targets in Midterm Election Gambit

An Iranian official has confirmed that Tehran is reviewing an economic war plan that includes attacks on Gulf oil export bypass facilities. The goal of this plan is to disrupt international crude prices and US gasoline prices, with a specific aim to hurt support for President Donald Trump's party ahead of the US midterm elections in November.

The potential targets include Saudi Arabia's Yanbu pipeline and the United Arab Emirates' Fujairah oil terminal, key export routes that bypass the Strait of Hormuz. Together, these facilities handle about 5.5 million barrels of crude a day.

The plan is intended to deepen supply disruptions, lift US gasoline prices, and increase political pressure on Trump's side before the November midterms. With Brent crude near $93 a barrel, any sign Tehran could move against Yanbu or Fujairah may be seen by the market as a much bigger shock than the supply disruptions already in place.