As oil soars, experts watch Red Sea tankers for clarity on Houthi blockade
Advertisement Windward tracking shows the cargo that moved through the Bab el-Mandeb chokepoint on July 20 was Saudi in origin but Chinese in crew and destination, and it drew no interdiction. “For now, we don’t know if china is using its own strategic reserves or if it will start import again.”Between those geopolitical plays and the upcoming hurricane season in the US, there is “another wildcard ahead for global refining capacity” and prices, De Haan said.
- ▪Advertisement Windward tracking shows the cargo that moved through the Bab el-Mandeb chokepoint on July 20 was Saudi in origin but Chinese in crew and destination, and it drew no interdiction.
- ▪“For now, we don’t know if china is using its own strategic reserves or if it will start import again.”Between those geopolitical plays and the upcoming hurricane season in the US, there is “another wildcard ahead for global refining capaci
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EDITOR'S ANALYSISEconomy|HouthisAs oil soars, experts watch Red Sea tankers for clarity on Houthi blockadeHouthi blockade for now is shaping who moves Saudi crude, not whether it moves, analysts say, even as oil prices soar.ListenListen (4 mins)SaveClick here to share on social mediashare-nodesSharefacebookxwhatsapp-strokecopylinkgoogleAdd Al Jazeera on GoogleinfoBoats float near the coast of Bab el-Mandeb, Yemen, April 2 [File: Reuters]By Megha BahreePublished On 24 Jul 202624 Jul 2026As oil prices hit $100 a barrel on Thursday, experts say they are watching to see which vessels Yemen’s Houthis allow to pass through in the Red Sea as that will indicate how the crude market trends.Brent futures rose $6.58 or 6.96 percent, to $100.65 a barrel, exceeding $100 for the first time since late…
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