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HOT NEWS: Iran declares it could close the important Bab el-Mandeb Strait if attacks occur on its territory or islands.
Details include:
1. The Bab al-Mandeb Strait is a narrow strait connecting the Red Sea with the Gulf of Aden and the Arabian Sea.
2. Approximately 12% of global seaborne oil transportation passes through the Bab al-Mandab Strait.
3. The Bab al-Mandeb Strait is the world's 4th largest maritime traffic chokepoint.
4. If both the Hormuz and Mandeb straits were closed, total shutdown capacity could reach nearly 25 million barrels per day, equivalent to approximately 25% of global supply.
We are currently awaiting the U.S. response to the "five conditions" that Iran has put forward to achieve a ceasefire agreement.