17 Hrs
Source:
CNN Arabic
Conflict extends from Hormuz to Bab el-Mandeb
The article discusses the growing threats facing the Bab el-Mandeb Strait in Yemen, where the Houthis have taken control of strategic locations, including Breim Island. This poses a serious risk to global oil shipping, which heavily depends on the strait as a key route for transporting oil from the Middle East. As a result, oil flows through the strait have significantly decreased, with Saudi Arabia’s exports falling from around 3 million barrels per day to less than 400,000 barrels. This has caused global oil prices to rise by more than 7%, reaching their highest levels since May 2023, exceeding $108 per barrel. The situation serves as a warning for global energy security, as ships are now forced to take longer routes and face higher costs. Such developments increase inflation and shipping expenses and make maritime navigation more vulnerable to attacks, further aggravating the fragile situation in this critical passage.
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