Oil markets are heating up as a new chokepoint emerges: the Bab el-Mandeb Strait. After Houthi rebels attacked Saudi tankers, Brent crude spiked nearly $20, revealing how vulnerable global oil flows are. Already handling 7 million barrels daily, this strait rivals Hormuz in importance — and disruptions here could cripple European refiners, inflate shipping costs, and amplify price volatility as ships reroute around Africa. The world’s oil trade is now navigating two critical bottlenecks — with bigger risks and sharper swings ahead.
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