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Last updated: July 19, 2026, 5:30 AM ET

Energy Security Concerns Escalate

Oil loading at the Caspian Pipeline Consortium’s terminal was halted on Russia’s Black Sea coast following a drone strike. This incident adds to escalating regional tensions, as the US and Iran after two American service members were killed in Jordan. Amidst these geopolitical strains, a proposal for a shared pact among Gulf states to manage the Strait of Hormuz has been suggested, drawing parallels to a defunct European coal and steel coalition.