The long-delayed project, which the developer has not yet formally greenlit, would deliver Alaskan gas to Asian markets but take several years to construct.

© Nathaniel Wilder for The New York Times

Saudi authorities had taken the pipeline offline this month after it was damaged in a drone attack by an Iranian-backed Iraqi militia.

© Vantor, via Reuters

More tankers are moving through the Strait of Hormuz as shippers gain confidence, but the global supply of oil is still below demand.

© Vahid Salemi/Associated Press