Asia’s oil buyers face US$100-per-barrel risk as Houthis threaten Saudi blockade

Asia’s oil buyers are facing the risk of a second maritime chokepoint being disrupted after Iran-aligned Houthi militants threatened to impose a naval blockade on Saudi Arabia, even as shipments through the Strait of Hormuz remain severely disrupted by the US-Iran conflict. Analysts said any serious disruption in the Bab el-Mandeb Strait could leave Asia with fewer alternatives for Middle Eastern crude, threatening Saudi shipments and increasing the risk of oil prices rising above US$100 per...

By Biman Mukherji