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Tuesday, October 20, 2026Updated 19:36 UTC

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HSBC Sees Hormuz Becoming Redundant in Five Years

Source: OilPrice.com · Oct 20, 2026 13:30 UTC

City lights along the Mediterranean Sea at night, seen from the International Space Station — File photo NASA · Public domain · Source

The Quick Take

The acceleration of plans for alternative routes to ship oil out of the Middle East could make the Strait of Hormuz “redundant” in five years, Georges Elhedery, chief executive of banking giant HSBC Group, said at the HSBC Future Forum 2026 in Dubai on Tuesday. “Of course, we do wish and hope to see a resolution to the conflict,” the executive said, as carried by Reuters. “But Hormuz, probably in

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