oil prices1 Jul 2019 15:19
Global oil supply shock could send prices back to $90 a barrel.
Anna Isaac
30 June 2019 • 9:00pm
Fears are mounting that an oil supply shock could soon batter the already fragile world economy by sending prices soaring.
Threats to one of the world’s most important oil arteries, the strait of Hormuz, are escalating amid concerns that its disruption could trigger a wider destabilisation of the Middle East.
As a result, oil analysts are now examining risks posed to another important route for the energy commodity, the Bab-al-Mandab strait.
This route fell prey to attacks last year and could be an outlet for heightened Iranian frustration, with Yemen’s Houthi rebels acting as proxy assailants on tankers.