Ultimatums and threats flew fast and thick over the past 24 hours. Yesterday evening, Trump told Iran to open the Strait of Hormuz within 48 hours or risk the U.S. destroying Iranian power plants. Iran responded with its own threats to attack fuel, energy, information technology systems and desalination infrastructure in the region. Iran has also threatened to completely shut the Strait.
I had mentioned earlier this month that Saudi Arabia was going to attempt to increase the amount of oil flowing through its East-West pipeline (although the total is still far short of what would normally go by tanker through the Strait of Hormuz). But Anonymous Conservatives links to sources saying that the Houthis in Yemen could shut this down by targeting ships entering or exiting the Red Sea, presumably at its southern opening. This doesn't completely cut off the Red Sea: oil freighters could still use the Suez Canal. But not all oil tankers, just Suezmax tankers or smaller. The Very Large Crude Carriers (VLCCs) and Ultra-Large Crude Carriers (ULCCs) cannot use the canal. There is also the issue of whether the Houthis Iranian supplied anti-ship missiles could reach far enough north to target even those tankers.
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