Iran

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  • Iran’s Revolutionary Guard threatened this week to close the Bab el-Mandeb Strait, the trade chokepoint at the southern end of the Red Sea.
  • The Bab el-Mandeb has acted as crucial relief valve for the oil market as exports have plunged through the Strait of Hormuz during the U.S.-Iran war.
  • Saudi Arabia has redirected millions of barrels from the Persian Gulf to the Red Sea. Attacks on ships through the Bab el-Mandeb would cut those barrels off.
 
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