Macro Finance
Houthi Threats Give Oil Markets a ‘Two Chokepoint Problem’
Bloomberg Markets·July 22, 2026·1 min read
Ships continue to turn away from the southern end of the Red Sea, after Yemen's Iran-backed Houthi rebels announced an embargo on Saudi exports through the Bab el-Mandeb Strait. This creates a 'two chokepoint problem' for oil markets, as the strait has become a lifeline for oil exports since the US-Israeli war with Iran began.
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