The Wall Street Journal reported that the simultaneous disruption of the two strategic waterways, the Strait of Hormuz and Bab al-Mandab, has affected about a quarter of the world’s crude oil supply.
According to this report, the Strait of Hormuz accounts for about 20 percent and the Bab al-Mandab for about 5 percent of the world’s oil transportation routes, and any disruption in these routes could challenge global energy trade.
The International Energy Agency has also warned that rising tensions related to Iran have increased risks to global energy security, and geopolitical instability has increased concerns about international oil markets.
The organization has emphasized that continued disruption in the Strait of Hormuz and Bab al-Mandab could have far-reaching consequences for energy transport and the global economy.
