NYTIMES (Gregory Schmidt) - Energy Markets Rattled After Saudi Pipeline Attacks
The price of U.S. diesel fuel hit a new high over mounting fears that fighting in the Middle East could further threaten oil supplies.
The price of U.S. diesel fuel hit a new high over mounting fears that fighting in the Middle East could further threaten oil supplies.
The Iran-backed Houthi rebels have reportedly seized Perim Island, a key island in the Bab al-Mandab Strait off the coast of Yemen. This puts the Houthis in position to exert major control over the strategic strait and the Red Sea. Get the latest on the Houthi advance (including the seizure of Perim Island), plus updates on Saudi Arabia (including an apparent attack on the East-West Pipeline) and Iran, in our live breaking news coverage. Perim Island, also called Mayyun, sits in the Bab al-Mandab Strait, a strategic, narrow waterway through which a large amount of oil and other goods are shipped internationally as they exit the Red Sea. The Houthis, who are supported by Iran, have reportedly taken control of Perim Island today. This…
Diesel prices in the U.S. has hit yet another record, soaring past $6 a gallon on average as Washington’s war with Iran disrupts the world’s flow of fuel
Attacks along key Middle East shipping routes stoked prolonged supply disruption fears.
‘Disrupted global diesel fuel supplies’
‘Earth-penetrating nuclear warhead’
The rebels’ capture of Mokha raises concerns of a new front opening after more than six months of war in the region.
The Saudi Energy Ministry Have Not Confirmed Any Hit
The Iran-backed militia’s ground offensive has reached the Bab al-Mandab, a Red Sea strait that is a choke point for global trade.
The national average price of a gallon of diesel jumped over $6 for the first time ever, AAA said on Friday. Why it matters: The fuel that runs the economy is getting more expensive by the day, costing businesses and consumers alike billions of dollars. - While the $6 threshold is more psychological than anything else, it points to months of continued pain for drivers, shippers and shoppers. Data: AAA; Chart: Ben Geman/Axios Driving the news: At $6.0556 a gallon, diesel is about 14% more expensive than it was a month ago and over 60% more than a year ago. - That is starting to show up in other prices, as has long been feared; inflation data out Thursday showed sharp spikes in transportation and warehousing costs, for example. Stunning…