Oil price shock on the way?
Tensions between regional rivals Saudi Arabia and Iran have provoked fears of an increase in world oil prices.
The war in Yemen – and sanctions being reimposed on Iran – are adding to concerns about an already volatile oil market.
Saudi Arabia ordered its oil tankers to stop sailing through the Bab al-Mandeb Strait, off the coast of Yemen, after Riyadh said two vessels were attacked by Houthi rebels linked to Iran.
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Iranian commanders have threatened to close the Strait of Hormuz – the gateway to the Gulf – if the United States blocks its oil exports.
Tensions are rising because of the reimposition of US sanctions on Iran after President Donald Trump pulled out of the 2015 nuclear deal.
Will regional tensions further escalate?
And what about the price of oil?
Presenter: Peter Dobbie
Guests:
Mamdouh Salameh – International oil economist
Bassima Alghussein – Chief executive, Alghussein Global Strategies
Mostafa Khoshcheshm – Political commentator
Published On 27 Jul 2018