Red Sea Tanker Traffic Drops Amid Houthi Threat; Oil Rerouted

Red Sea tanker traffic has reached a multi-month low as Houthi threats in the Bab el-Mandeb Strait continue to disrupt shipping. Saudi Arabia, the world's top crude oil exporter, is now rerouting supertankers to avoid the chokepoint, sending them to Egyptian ports like Sidi Kerir and Ain Sukhna. This significant shift in export tactics aims to mitigate risks posed by the Iran-aligned Houthis. Sustained disruptions could push global crude oil prices higher, potentially increasing Pakistan's import bill and adding pressure on the USD/PKR exchange rate.

بحوالہ / Source: oilprice.com