Houthi threats to shipping in the Red Sea and Bab el-Mandeb Strait have forced a Saudi crude tanker, the Olympic Luck, to reroute via the Suez Canal and around Africa. This U-turn from the usual Bab el-Mandeb route indicates growing reluctance among tanker owners to risk the volatile region. The longer journey increases shipping costs and transit times, potentially impacting global crude oil supply. Higher crude oil prices could pressure Pakistan's import bill and inflation, potentially affecting USD/PKR rates.
بحوالہ / Source: oilprice.com