Shipping issues push Brent above $100
Reports have indicated that the Houthi supporters have warned shipping companies against dealing with Saudi ports, amidst escalating threats and military developments in the region. The area has also experienced shipping disruptions that have led to some oil tankers changing their routes, amid rising tensions between Iran and the United States, and oil prices soaring above $100 per barrel. This coincided with increased military activity in the Red Sea and reaffirmations of the need to preserve sovereignty and the legitimacy of international navigation in the Strait of Hormuz.
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