20 minutes agoCNN: Iran is threatening another vital Strait that could further disturb oil markets
Periskopi(25 days ago)
(25 days ago)Iran and its allies are considering “reactivating other fronts”, including the Bab al-Mandab Strait, in response to Israeli attacks in Lebanon, Iranian media reported on Monday, CNN reported.
The closure of this strategic waterway could cause significant disruptions in global trade and further disturb oil markets. Oil prices rose significantly after this news.
Bab al-Mandab is located at the southern end of the Red Sea and is a key gateway to the Suez Canal, connecting Europe and Asia through one of the world's most heavily loaded sea routes. With only 20 miles [29 km] wide at its narrowest point, that is where ships were previously the target of attacks by Yemeni rebels, backed by Iran.
At the end of 2023, the Hhutt militants began attacking merchant ships passing through this strait in retaliation for Israel's war in Gaza. The attacks prompted shipping companies to use a longer route, increasing weeks on travel and forcing them to spend more on marine fuel, insurance and salaries.
Nearly 15% of global maritime trade passes through Bab al-Mandab. According to industry estimates, earlier sea transport disruptions between 2023 and 2025 probably cost about $20 billion annually.
However, the straits have remained largely dead during the current war, maintaining a critical export route for Saudi Arabia, the world's largest exporter of crude oil, as Iran effectively closed the Hormuz Strait.
Yemen's nose has yet to comment on Iranian reports. But in March, Mohammed Mansour, deputy minister of information in the rebel Huthi government, told CNN that the closure of Bab al-Mandab “is a applicable option and the consequences will be held by American and Israeli aggressors”.
