Iranian officials plan to attack Gulf oil facilities, aiming to push up US gasoline prices

Iranian officials plan to attack Gulf oil export facilities to push up US gasoline prices, with the aim of affecting Trump's party's support in the midterm elections. The attack targets include the Yanbu pipeline in Saudi Arabia and the Fujairah oil terminal in the United Arab Emirates, which together process approximately 5.5 million barrels of oil per day. Iranian officials say that if the shadow fleet transportation through the Strait of Hormuz is cut off, the alternative transportation capacity of about 5 million barrels per day of oil will be reduced. With Brent crude oil prices approaching $93 per barrel, a blow to Yanbu or Fujairah would be seen by traders as a more severe supply shock than previous disruptions.