Wednesday, March 28, 2018

Why tiny Yemen affects entire

Why tiny Yemen affects the entire oil market

Despite,
Yemen that provides less than 0.2% of the world
oil, its location was
the reason that today shook
the entire global energy market.


Yemen borders
Saudi Arabia, the world's largest
raw material exporter. Moreover, it takes
coast, past which are tankers
from the Persian Gulf bound
to the west. We are on the path overlap
of Bab-el-Mandeb Strait, he
able to stop tankers on their way
the Suez canal. If the path is closed,
oil have exported around
southern tip of Africa, seriously
and increasing the cost of transportation of raw materials,
and time. Similarly, through the Suez Canal will not be able
move and tankers carrying oil
to Asia from Europe and North Africa.


Rik Spuner,
chief strategist at CMC Markets in
Sydney, says: "As a manufacturer of Yemen
oil does not matter, but with
geographical and political point
view, it is very important for the whole economy
Middle East. "


therefore
it is not surprising that the world oil prices
today jumped more than 5% after
how countries in the region launched a joint
military operation in Yemen. were made
airstrikes, the objectives of which were positions
insurgents.


Government
Yemen collapsed as a result of the offensive
rebel organization known
as the Houthis. This prompted Saudi
Arabia to lead a military operation
against neighbor. All over again it is connected not only to the economy but also to religious conflicts: basic
part of the Gulf confesses
Sunni Islam, and the Houthis - it
Shiites, who are accused of the fact that they
act at the instigation of the Shia
Iran.


"Of course,
no one will notice the lack of thousands
Yemeni barrels of oil. But millions
barrels from Saudi Arabia - a more
serious loss, which will have
great importance ", - says Singapore
energy consultant Dzhon Votren.
- "It is only natural that Saudi
Arabia was extremely concerned
the spread of unrest in Yemen
and the fall of his government. "


At the time of 11.35
MSK Brent grew up already
$ 58,81, WTI -
to $ 51.62. both reference
mark added almost 5%.



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