Oil pares gains as doubts linger over U.S.-backed plan to protect Strait of Hormuz shipping

Let's start here with oil because it is higher after a fresh round of Iranian attacks on UAE energy infrastructure and as a tanker was hit in the Gulf of Oman. Also lingering questions about if and when there will be military escorts for tankers in the straight of Hormuz and which countries will send support. But longer term, the liqufied natural gas market could have larger lasting impacts from the blockade than the oil market because LG production is much more concentrated.Qatar supplies about 20% of glob ...