Saudi oil sales to India face 50% freight increase
pre-market1 source ↓written by the desknot a recommendation
- due
- 50%
Shipping freight rates for crude oil imports from Saudi Arabia may rise by 50% due to the Houthi blockade of the Bab el-Mandeb Strait. This blockade forces India-bound ships to take a longer route via the Suez Canal, increasing costs and extending delivery timelines by two weeks. As the world's third-largest oil buyer, India faces a higher energy import bill. ⚓
Not investment advice. For informational purposes only.