BREAKING: Houthi forces have now taken control of the entire Red Sea coast in Yemen, effectively giving them control of the Bab el-Mandeb Strait.
The Bab el-Mandeb Strait saw over 9 million barrels of daily crude oil flows at its peak prior to the Iran War.
This reflect ~9% of global demand which is now at risk of being shut down.
Brent crude oil prices extend gains toward $110/barrel.
Mike
The Bab el-Mandeb Strait saw over 9 million barrels of daily crude oil flows at its peak prior to the Iran War.
This reflect ~9% of global demand which is now at risk of being shut down.
Brent crude oil prices extend gains toward $110/barrel.
Mike
