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Could the Red Sea Remain a No Go Route for Years?

Dr Carole Nakhle, CEO of Crystol Energy, is quoted in this article written by Andreas Exarheas from RigZone commenting on the whether trade in the Red Sea is permanently disrupted due to the ongoing geopolitical tensions in the Middle East.

Key maritime chokepoints

According to Dr. Nakhle, this is not the first time shipping through the Red Sea gets distorted, nor is the Red Sea the only maritime chokepoint for global trade. The good news for global trade is that there are alternatives, albeit at higher costs and longer voyage. No one knows how the current situation will unfold but one remains hopeful that many players are directly affected and they have a strong interest in resolving the problem sooner rather than later.

Even in the event where the Red Sea remains a no go route for years, the impact on oil and gas prices will be limited as long as supplies are not affected.

Related Comments

Overview of Oil markets and the path ahead for OPEC+“, Dr Carole Nakhle, Dec 2023

Tensions in the Red Sea slightly affected the rise in oil prices“, Dr Carole Nakhle, Dec 2023

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