Hormuz vs Bab el-Mandeb: Which Threats Global Economy
The article emphasizes the importance of the Strait of Hormuz and the Bab el-Mandeb Strait as strategic and vital passages that threaten global energy security and trade amid tensions between the United States and Iran. It explains that the Strait of Hormuz is the world's most important energy corridor, transporting approximately 20% of global oil consumption. It is heavily relied upon by some Gulf countries and Iraq for their oil exports, and it is under strict military surveillance and used as a political leverage tool. On the other hand, the Bab el-Mandeb Strait serves as a gateway for trade between Asia and Europe and has seen increased military tensions and targeted attacks by the Houthi group in Yemen, endangering international supply chains and raising costs. Any simultaneous disruption in these two passages could threaten global supply networks, significantly driving up energy prices and logistical costs.
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