Crude oil futures rose more than 2% on Tuesday following a fresh exchange of attacks by the U.S. âand Iran as well as threats of a naval blockade of Saudi Arabia by Yemen’s Iran-backed Houthi rebels.
The U.S. military completed a To ensure this doesnât happen in the future, please enable Javascript and cookies in your browser
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh. Entering text into the input field will update the search result below Entering text into the input field will update the search result below Quick Insights If the Houthis block or threaten ships calling at Saudi ports, millions of barrels of Saudi exports, especially via the Yanbu hub, could be disrupted and force oil onto longer shipping routes.
A shutdown would create massive disruption in the first month, particularly for Saudi oil flows to Asia, increasing shipping times and causing logistical bottlenecks. The fresh exchange of attacks has contributed to over 2% increases in crude oil futures as investors react to supply disruption risks