How the Bab al-Mandab blockade threat helped push oil back above $100
Houthi militia threats against shipping in the Bab al-Mandab strait have caused global oil prices to surge above $100 per barrel. The escalation threatens a critical maritime route for Saudi oil exports, raising concerns about energy market stability.
Why it matters
Disruptions to key maritime chokepoints can trigger global inflation and energy supply crises, impacting the cost of living worldwide.
A satellite view of the Bab-al-Mandab strait. Photograph: worldview.earthdata.nasa.gov/Nasa Worldview A satellite view of the Bab-al-Mandab strait. Photograph: worldview.earthdata.nasa.gov/Nasa Worldview Oil Explainer How the Bab al-Mandab blockade threat helped push oil back above $100 Escalating Houthi warnings to ships carrying Saudi crude through the strait lead to fears of further price surge
Prefer the Guardian on Google A fresh front in the Middle East crisis opened this week, bringing a return of soaring global energy markets and stoking fears that the oil price could surge to $120 (£90) a barrel.
In a matter of days the price of Brent crude has jumped by more than 13%, breaching the $100 a barrel mark on Thursday after Yemen’s Houthi militias took aim at a new target: Saudi oil exports via the Bab al-Mandab strait.
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