ShippingWatch

Yemen conflict could hit key shipping routes

The conflict in Yemen could broaden and hit key shipping routes, thus changing the entire power balance in the region if the Iranian-backed rebel movement in the country keeps gaining ground, analysts tell Reuters.

The tense situation in Yemen could spread to the trafficked shipping trade lanes located close to the shore, and this could also have consequences for the the narrow Bab el-Mandeb strait, through which around four million barrels of oil are transported every day to destinations in Europe, the US and Asia, analysts and observers tell Reuters.

On Thursday the oil price increased six percent after Saudi Arabia bombed numerous locations in Yemen, targeting the Houthi rebels who are backed by Iran and who are trying to seize power of the country.

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