Asia's Oil Buyers Face $100 Per Barrel Risk as Houthis Threaten Saudi Blockade The threat of a blockade by the Houthi rebels in Yemen has sent shockwaves through the global oil market, particularly among Asian buyers who heavily rely on Middle Eastern crude.
Estimates suggest that any significant disruption to the Bab el Mandeb Strait could leave Asia with limited alternatives for its oil supplies, potentially driving prices above $100 per barrel.
Regional instability is not a new phenomenon in the Gulf. The area has long been marked by tensions between rival powers vying for influence and control.