Iranian Official Warns Bab el-Mandeb Crisis Could Push Oil to $250 per Barrel

Global oil prices could surge to between $200 and $250 per barrel if the Bab el-Mandeb Strait is used as a point of leverage during a potential conflict, according to an Iranian official. The official noted that while Iran has historically relied primarily on the strategic importance of the Strait of Hormuz, the Bab el-Mandeb Strait now represents a critical pressure point. An official close to the Houthi movement stated that closing the strait, which connects the Red Sea to the Gulf of Aden, remains an option if regional tensions escalate. Such a blockade would reportedly target only those countries the movement identifies as aggressors. These regional tensions continue to impact global energy markets, specifically affecting the transport of oil and gas through the vital Strait of Hormuz.