Saudi Arabia’s Cabinet has reiterated its rejection of threats to maritime navigation and global energy supplies, calling for urgent international action to protect shipping and ensure the flow of international trade.
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Energy traders have long had a recurring nightmare. It starts with a narrow strait between Iran and Oman, through which about a fifth of the world’s oil normally passes, and ends with tankers anchored, insurers raising their rates and the price of a barrel…
Saudi Arabia’s cabinet, chaired by King Salman in Riyadh on Tuesday, stressed the need for international cooperation to protect global energy security, trade, supply chains and maritime navigation amid regional tensions.
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