The fall out of Brexit at home, a lessening of western power and the diminishing importance of the Middle East to London and its western allies has seen the UK step back from the region
Legislation to fund the American military and intelligence services will include requirements that Israeli defence firms be involved in sensitive projects and that classified information be shared
Even if diplomatic progress continues, the Strait could be closed again. As a result, the geopolitical risk premium attached to Gulf energy exports is unlikely to disappear entirely.