Iran’s IRGC has ordered the Houthis in Yemen to close the Bab el-Mandeb Strait soon after a new wave of U.S. attacks on Iran began. The strait accounts for roughly 10–15% of global seaborne oil trade.

 

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 Iran’s IRGC has  ordered the Houthis in Yemen to close the Bab el-Mandeb Strait soon after a new wave of U.S. attacks on Iran began. The strait accounts for roughly 10–15% of global seaborne oil trade.

 

Because the Strait of Hormuz is already closed and about 20% of global oil trade passes through it if this happens, around 35% of oil trade could be disrupted. Oil prices could potentially rise to $200 per barrel. ——