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Katie_OKX
#HormuzBabElMandebRisk Both critical Middle Eastern energy chokepoints are now contested at the same time 🛢️💀
Hormuz still hasn't reopened to normal traffic. Iran's conditions remain unmet — they're holding the strait closed as leverage. Every day offline is a day the oil market prices in supply risk 📉
Then October 5: Saudi-backed Yemeni government forces launched a new offensive near Bab-el-Mandeb and claimed to retake key areas. Houthis say fighting continued anyway. Which side actually controls what is now ambiguous, but the fighting itself is the point — it keeps the second-largest crude corridor under pressure 🚨
When one chokepoint is blocked and the other is contested, global oil supply gets written at a premium. Refiners have to route around both, adding cost and time. Backup routes fill up fast 👀
Hormuz closed by Iran's political demands. Bab-el-Mandeb contested by active military operations. Neither is resolving this week. And oil is pricing both as structural, not temporary 🔥
Two chokepoints down, neither with a clear reopening date — does oil break above $110 and stay there, or is there a price ceiling the market won't cross? 👇
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