Asia’s oil buyers face US$100-per-barrel risk as Houthis threaten Saudi blockade

AI Summary

Asia's oil buyers are facing the risk of oil prices exceeding US$100 per barrel due to a potential Saudi blockade threatened by Iran-aligned Houthi militants. The threat targets the Bab el-Mandeb Strait, a critical maritime chokepoint, risking disruption of Middle Eastern crude shipments alongside existing Strait of Hormuz conflicts.

Asia’s oil buyers are facing the risk of a second maritime chokepoint being disrupted after Iran-aligned Houthi militants threatened to impose a naval blockade on Saudi Arabia, even as shipments through the Strait of Hormuz remain severely disrupted by the US-Iran conflict. Analysts said any serious disruption in the Bab el-Mandeb Strait could leave Asia with fewer alternatives for Middle Eastern crude, threatening Saudi shipments and increasing the risk of oil prices rising above US$100 per...