Oil -Saudi to temporarily halt exports through Bab-el-Mandeb Strait
Saudi energy minister
- says Saudi Arabia is temporarily halting all oil shipments through Bab-el-Mandeb Strait immediately
- Saudi oil shipments through strait halted until situation is clearer and maritime transit through is safe
Efforts are underway to move a damaged ship to the nearest Saudi Port
This will stop exports via Saudi Red Sea ports, not good news for oil supplies. Yes, there are Gulf ports unaffected but shipments from Red Sea ports are significant. Sausi says its temporary (and it is) but for how long?