14 Hrs
Source:
الشرق اللبنانية
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Yagi explains state’s fuel import policy
The article discusses the impact of the Houthi control over the Bab el-Mandeb Strait and the western coast of Yemen on international navigation security, especially given concerns about disrupting vital energy and global trade routes. It points out that the closure or attack on the Bab el-Mandeb Strait, which connects the Red Sea to the Indian Ocean, could threaten global oil supplies and cause a sharp rise in crude prices. Projections indicate that stopping its operation might push the price of a barrel of oil above $150, leading to a global stagflationary recession. The article also explains that Saudi Arabia halted the East-West pipeline following targeted attacks, resulting in a significant drop in oil exports and rising fuel prices. These repercussions are expected to impact Asian and European markets and increase costs and economic growth challenges. Experts anticipate that any disruptions in the Strait of Hormuz or Bab el-Mandeb would deepen the international energy crisis and place the region amid economic crises and popular protests, amid ongoing geopolitical tensions that could pose unprecedented security and economic challenges worldwide until the end of 2026.
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