A former US energy official warns that the global oil market is facing a potential shock due to the widening Middle East conflict, with Iran and its allies posing risks to key maritime choke points.
- Randa Fahmy, a former US associate deputy energy secretary, warns of a potential oil market shock due to the prolonged Middle East conflict.
- Iran's control over the Strait of Hormuz is a key concern for global energy security.
- The conflict's expansion to include Iran-backed Houthi militants in Yemen adds to the risks.
- The Bab el-Mandeb Strait, another critical choke point, could be affected by the conflict.
- The situation is described as 'incredibly concerning' due to the potential for energy supply disruptions.
- The global oil market faces heightened risks to stability and pricing as a result of the conflict.
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