Iran conflict puts two critical shipping chokepoints under pressure — what happens to global trade
By CGTN America
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Yemen’s Iran-backed Houthis have seized the port of Mokha and nearby Perim Island, driving farther south towards the Bab el-Mandeb Strait, a gateway for roughly 10 to 12 percent of global trade. With the Strait of Hormuz already disrupted by the U.S.-Iran conflict, another major shipping route is under pressure, raising concerns about higher transportation costs and prices. CGTN's Sally Ayhan spoke with Eugene Gholz, Associate Professor of Political Science at the University of Notre Dame, about the significance of two critical shipping chokepoints under threat. 00:00 Strait of Hormuz and Red Sea put global oil trade under pressure 01:24 Why hasn't the Strait of Hormuz crisis sent oil prices soaring? 02:28 How oil inventories are keeping global prices in check 03:21 Iran attacks and Houthi threats put Saudi oil exports at risk 05:02 Could the Bab el-Mandeb become another shipping chokepoint? #bizshow #redsea #hormuz #shippingcosts #iranconflict #USIran #US #Iran #Yemen #
Tags: CGTN, Houthis, Iran, Strait of Hormuz, Yemen, bizshow, oil, shipping tankers
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