Bab al-Mandab disruption piles on top of low US oil reserves.
Second strait Bab al-Mandab now closed or heavily blocked. Houthis announce naval blockade Saudi shipping. This follows Strait of Hormuz problems. Big risk to global oil flow. US Strategic Petroleum Reserve down to lowest since 1983. Stocks around 316 million barrels. Total inventories tight 42-43 days supply at current rates. A second strait – the …