Iran-Backed Houthis Capture Crucial Oil Chokepoint
The seizure threatens shipping through a corridor that carries about 12% of global goods, while Saudi Arabia halted exports through a key pipeline.
6 Articles
6 Articles
Yemen’s Houthis capture a Red Sea island in a threat to shipping, and other Mideast developments
Iranian-backed Houthi rebels in Yemen seized a key island Friday after capturing a Red Sea port, moves that threatened to further disrupt international shipping in the region. And Saudi Arabia said it shut down a major oil pipeline as a precaution after it came under attack. Houthi rebels capture strategic island as Saudi Arabia targets airport Yemen ’s Iranian-backed Houthi rebels captured the island of Mayun at the entrance of the Red Sea, a k…
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Cryptocurrency News | Cryptocurrency Prices | Market CapIran-backed forces in Yemen target Saudi oil, impact global prices
Escalating Middle East tensions could lead to sustained global oil price volatility, affecting economic stability and energy market dynamics.
The international oil market began the week with a new price stampede driven by the aggravation of the war crisis in the Middle East. In Monday’s operations, Brent’s oil barrel climbed by 4% to quote at $109.35, while US crude WTI advanced another 4% and placed itself on the market...
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