Houthi Threats Reroute Saudi Crude Tanker, Raising Oil Supply Concerns

Houthi threats in the Red Sea and Bab el-Mandeb Strait have compelled at least one Saudi crude oil tanker, the Olympic Luck, to reroute via the Suez Canal and around Africa for its journey to Asia. This longer route, confirmed by shipping data, indicates growing reluctance among tanker owners to risk passage through the Red Sea. Such diversions could increase shipping costs and potentially tighten global crude oil supply. For Pakistan, sustained higher crude oil prices could contribute to imported inflation and put pressure on the USD/PKR exchange rate.

بحوالہ / Source: oilprice.com