GEOPOLITICS | Houthi Threats Prompt Oil Tanker Route Changes as Strait of Hormuz Vessel Hit

Some ships have begun altering sailing routes in the Red Sea, and another vessel was hit in the Strait of Hormuz as the two oil market chokepoints come under mounting pressure, according to Bloomberg. The developments raise risks for traffic through the Red Sea and the Strait of Hormuz, both key release valves for global crude flows during the Iran war.