Risks to Middle East Oil and Gas Shipping Routes: Here’s What’s At Stake

DUBAI, July 26 (Reuters) - Saudi Arabia said on Thursday it was suspending oil shipments through the Red Sea after Yemen's Iran-aligned Houthis attacked two crude tankers, underscoring risks caused by the conflict in the world's top oil exporting region. Iran, in its row with the United States over sanctions, has also threatened to block the Strait of Hormuz, the other major … [Read more...]

Explainer: What is the Bab el-Mandeb Strait and Why is it Important?

By Julian Lee (Bloomberg) -- Saudi Arabia temporarily halted oil shipments via the Bab el-Mandeb Strait, a key shipping lane for crude at the southern end of the Red Sea, after the country said two tankers were attacked by the Yemeni Houthi militia. Here’s why this waterway is starting to become a focal point for the global economy. What is the Bab el-Mandeb Strait? The Bab … [Read more...]