Two Saudi oil tankers bound for China and India made U-turns in the Red Sea, heading for the Suez Canal instead of braving the Yemeni coast after Houthi militia warnings. This disruption suggests a second major shipping route at risk, potentially compounding global energy market shortfalls. The Houthis declared a naval blockade against Saudi Arabia, warning ships not to load or discharge cargo at Saudi ports. This development could push international crude oil prices higher, potentially increasing Pakistan's import bill and adding pressure on USD/PKR and domestic inflation.
بحوالہ / Source: www.brecorder.com