🇾🇪🇮🇷 Iran may want oil prices higher, but the HOUTHIS are the ones STRETCHING THE MARKET right now through the Bab-el-Mandeb Strait
The Red Sea route is the main workaround when Hormuz is tight.
Houthis control parts of the Yemeni coast and islands, and traffic through the strait is still way down.
Recent attacks on Saudi Aramco sites and shipping in the area have kept the risk premium alive even as Gulf crude finds other paths.
Saudi oil has been moving through the East-West pipeline to the Red Sea, which makes Bab-el-Mandeb attacks more relevant, not less.
The market has adapted to Hormuz, but the southern route is still the one that can push prices when it gets hit.
Source: Bloomberg / Writer: Lucas
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Saud 🇸🇦 @isaudi90 ·
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The people of Gaza ask the Houthis:
“You have taken control of the Bab al-Mandab Strait, so why do you allow Israeli and American ships to pass through? And why do you give Netanyahu assurances that his ships, which transport money and weapons to him to slaughter us, will not be targeted?





































































