Oil Tanker Makes Red Sea U-Turn After Houthi Threats, Reroutes Around Africa In Costly Transit
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Source: Zero Hedge
Published: 2026-07-25 03:40 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Africa, Energy
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Snippet:
ING's Singapore-based head of commodities, Warren Patterson, was asked during a recent webinar what it would take for Brent crude to exceed $120 a barrel. His answer was "not much," warning that prices could soar well into triple-digit territory if the Strait of Hormuz remains blocked through August and threats to Red Sea shipping intensify.
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