Renewed hostilities between the US and Iran, coupled with Houthi attacks in the Red Sea, are raising concerns as global oil inventories remain severely depleted
Global oil prices have surged toward $100 per barrel as fighting has again escalated in the Middle East.
Renewed hostilities between the US and Iran have again brought traffic through the Strait of Hormuz to a near halt, while the Tehran-allied Yemeni Houthis have joined the fray with attacks on tankers in the Red Sea and a naval blockade against Saudi Arabia in the Bab el-Mandeb Strait, at the mouth of the Persian Gulf – the second-most important route for energy shipments after…
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