the Bab el-Mandeb
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Iran's threats against this Red Sea chokepoint are a big vulnerability for the oil market
President Donald Trump faces the risk that Iran will close the Bab el-Mandeb Strait if the conflict in the Middle East escalates, a scenario that would slash oil supplies to an already deeply disrupted market. The Bab el-Mandeb is one of the world's key trade chokepoints, connecting the Red Sea to the Gulf of Aden and Arabian Sea. It has acted as crucial relief valve for the oil market as exports through the Strait of Hormuz have plunged due to Iranian attacks on tanker and cargo ships.
Houthis join Iran war fight, threatening Red Sea shipping amid Hormuz closure
Yemen's Houthis declared a ban on Israeli shipping in the Red Sea and claimed a missile strike on Israel, with the Bab el-Mandeb and Hormuz blockades now simultaneously threatening roughly a third of the world's seaborne oil and gas. Yemen's Houthi rebels have joined the fight in the Iran war on Tehran's side, announcing a missile attack on Israel on Monday and declaring a ban on Israeli shipping in the Red Sea, putting the waterway in danger along with the Gulf of Aden and the narrow Bab...
Benjamin Netanyahu's assault on Beirut halted after Donald Trump's phone rant
Benjamin Netanyahu's assault on Beirut halted after Donald Trump's phone rant Donald Trump launched an "expletive laden rant" against Israeli leader Benjamin Netanyahu to stop the Beirut attack amid fears Iran will ditch peace talks and activate feared Yemeni Houthin rebels Fighting between Israeli forces and Hezbollah has broken out in southern Lebanon despite US claims a partial ceasefire had been agreed. The confusion has been boosted by claims US President Donald Trump launched an...
Oil exports through the Strait of Hormuz might not return to levels seen before the Iran war
The oil market might face a new reality after the Iran war in which exports through the Strait of Hormuz do not return to the levels once considered normal, as shipowners now have to weigh the risk that fighting could abruptly break out in the volatile Persian Gulf. And Western commercial ships will likely hesitate to sail through Hormuz if it remains under Iran's de facto control, especially if they have to coordinate with the Revolutionary Guard, putting them at risk of violating U.S....
Oil prices ease as Iran and Israel pause attacks; Brent, WTI retreat from recent highs
Oil prices eased on Tuesday after a volatile trading session, as Iran and Israel paused attacks on each other, reducing immediate concerns over disruptions to energy supplies. The pullback came after both countries said they had stopped attacking each other following an appeal from US President Donald Trump. However, Tehran warned that it would resume strikes if Israel continued targeting Hezbollah in Lebanon.
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Israel and Iran step back from further strikes after renewed clashes
Israel and Iran step back from further strikes after renewed clashes Israel and Iran appeared to pull back from further military action on Monday after exchanging fire for the first time since a US-brokered ceasefire two months ago. Both sides warned they would retaliate if attacked again, while regional powers and the Trump administration pushed to prevent the conflict from escalating into a wider war. Israel and Iran appeared to back away from further strikes Monday, hours after they...
'US firms benefit from Hormuz closure': Russian oil company chief's big claim amid Iran war
Rosneft chief executive Igor Sechin on Saturday said American energy companies were the biggest beneficiaries of the closure of the Strait of Hormuz, while warning that prolonged disruption in the vital shipping route could ultimately undermine global oil demand and accelerate interest in alternative energy sources, as per Reuters. Speaking at the St. Petersburg International Economic Forum, Sechin argued that the closure of the strategic waterway, through which around one-fifth of global...