Yemen's Houthis have announced a naval blockade against Saudi Arabia, raising fears of a dual closure of the critical Red Sea and Strait of Hormuz oil routes. This threat, following Iran's partial blockade of Hormuz, could simultaneously disrupt both major Middle East oil export channels. The Bab el-Mandeb strait alone handles 7.4 million barrels per day, or 7% of global oil output, making a serious disruption a significant global energy shock. This escalation could drive international crude oil prices sharply higher, potentially increasing imported inflation and putting pressure on the Pakistani Rupee against the US Dollar, while also boosting safe-haven demand for gold.
بحوالہ / Source: www.brecorder.com