Four more oil tankers changed direction on the Red Sea after Iran-aligned Houthi forces in Yemen warned ships not to use the southern route. This adds to Iran’s near-total blockage of the Strait of Hormuz and raises global oil supply fears. Oil prices rose to nearly a six-week high on July 22, with Brent crude increasing by 2.45 percent to $93.24 per barrel.
Article source: iraqsun.com | Image credit: The Boston Globe