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“A more recent escalation in fighting between Saudi Arabia and the Houthis has further compounded the crisis: the Bab al-Mandeb strait that connects the Red Sea to the Gulf of Aden, which Saudi Arabia uses to export oil, is now also a theatre of war.”

“Oil prices hovered near $110 a barrel on Tuesday as traders assessed the impact of Washington’s decision to ease some restrictions on Russian energy exports, while fresh attacks claimed by Yemen’s Houthis against Saudi targets added to concerns over potential…”

“The Houthis separately attacked several Saudi oil facilities with drones and missiles last week, causing fires which led to operations being temporarily halted.”

“The price of oil has only continued to inch upwards as the US-Israel war on Iran shows no signs of resolving and energy facilities and shipping routes, including the Strait of Hormuz, continue to come under attack.”

“… as the missile exchanges in the Gulf died down and Trump signalled that peace was on the way, the price of oil began to fall from the $100-plus US range it hit in response to the initial U.S.-Israeli attack on Iran, and Iran's closure of the Strait of…”

“Renewed U.S.-Iran exchanges send oil price back over $100 US for first time in several weeks Iran-backed Houthis attack Saudi oil facilities, injuring dozens Twelve to 15 per cent of the world's trade passes through the Red Sea annually.”