Bab el-Mandeb shipping traffic falls after reported attacks, raising crude and freight risks
Lower Red Sea traffic and rerouting around the Cape of Good Hope are increasing energy and freight-supply uncertainty.
MSA market desk
Desk brief
Shipping traffic through the Bab el-Mandeb Strait fell on July 26 following reported Houthi attacks on Saudi oil installations, while traffic through the Strait of Hormuz remained low. Physical crude cargo prices in the Middle East, Europe and Africa reached two-month highs, and vessels were reportedly rerouting around the Cape of Good Hope, increasing voyage times and logistical costs.
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