Is the world at risk of another energy shock? | Counting the Cost
Shipping through the Strait of Hormuz remains in effect halted. Tankers are now avoiding another critical waterway - Bab al-Mandeb - as Yemen's Houthi forces
Shipping through the Strait of Hormuz remains in effect halted. Tankers are now avoiding another critical waterway - Bab al-Mandeb - as Yemen's Houthi forces threaten Saudi-linked vessels.
Ukrainian strikes have hit Russian export infrastructure. Three major routes are now disrupted at once: the Gulf, the Red Sea and the Black Sea. Together, they threaten trade flows equivalent to nearly a quarter of global oil supplies just as reserves sit at multiyear lows.
Goldman Sachs says oil could rise above $120 a barrel by the fourth quarter if disruptions in the Strait of Hormuz alone persist. Economies worldwide
are bracing for another energy shock.
The BriefWire