Oil Tanker Reroutes Around Africa Due to Houthi Red Sea Threats
An oil tanker bound for Japan made a U-turn in the Red Sea and rerouted around Africa, incurring costly transit, due to threats from Houthi rebels. Kenya has also raised alarm over the Houthi threat to blockade the Red Sea strait.
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Oil Tanker Makes Red Sea U-Turn After Houthi Threats, Reroutes Around Africa In Costly Transit
Oil Tanker Makes Red Sea U-Turn After Houthi Threats, Reroutes Around Africa In Costly Transit ING's Singapore-based head of commodities, Warren Patterson, was asked during a recent webinar what it would take for Brent crude to exceed $120 a barrel. His answer was "not much," warning that prices could soar well into triple-digit territory if the Strait of Hormuz remains blocked through August and threats to Red Sea shipping intensify. Patterson's warning about disruptions at th...
By Tyler Durden
Read full article →Kenya raises alarm over Houthi threat to blockade Red Sea strait
Nairobi warns worsening security situation in the Red Sea zone could increase fuel prices and...
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