Loading ...In another major escalation, we may lose another ~7 million barrels of daily oil supply.
A key advisor to Iran’s new Supreme Leader, Mojtaba Khamenei, is now threatening to close the Bab al-Mandab Strait, which connects the Red Sea to the Gulf of Aden.
On top of the ~7 million barrels of daily oil supply flowing through this Strait, ~22% of global seaborne container trade travels through Bab al-Mandab each year.
Between the Strait of Hormuz and Bab al-Mandab, we could see as much as 25 million barrels in daily oil supply offline.