"Middle East oil shipments face a new challenge as the Bab al-Mandab Strait, a crucial waterway connecting the Red Sea to the Gulf of Aden, has become increasingly treacherous due to rising tensions and piracy concerns. As a result, tanker companies are re-routing their vessels, potentially adding a month to the delivery time for crude oil to Asian refineries. The Bab al-Mandab Strait is a key chokepoint for global oil trade, with approximately 3.5 million barrels of crude passing through it every day. The disruption is expected to have a significant impact on oil prices and supply chains, highlighting the fragility of the global energy market."
Asian refiners may wait an extra month for crude as tankers abandon the route through Bab al-Mandab
