Oil Prices Surge Over 1% as Threat to Key Shipping Strait Grows
Part of composite article Iran & Houthis Trigger Twin Oil Chokepoint Crisis; 20% of Global Supply at Risk View full article →
Oil prices rose more than 1% today as fears over energy supply security intensified following threats to close the Bab el-Mandeb strait. The narrow waterway, a critical chokepoint for global oil shipments, has raised concerns about disruptions to tanker traffic in the region.