WS #15331
Saudi-Yemeni forces have claimed control of the strategic Bab al-Mandab Strait, a critical chokepoint for global oil shipping. This development, combined with the Jeddah depot strike and Ukrainian strikes on Russian refineries, has pushed Brent crude to $102. Aramco has warned that global oil inventories will take two years to rebuild, signaling a prolonged supply deficit that benefits energy producers while threatening global growth through higher energy costs.
Middle East Oil Supply Shock
Saudi-Yemeni forces have claimed control of the strategic Bab al-Mandab Strait, a critical chokepoint for global oil shipping. This development, combined with the Jeddah depot strike and Ukrainian strikes on Russian refineries, has pushed Brent crude to $102. Aramco has warned that global oil inventories will take two years to rebuild, signaling a prolonged supply deficit that benefits energy producers while threatening global growth through higher energy costs.