Global oil prices could surge to $140 per barrel if Houthi rebels target shipping in the Red Sea, potentially worsening what is already considered the largest energy disruption in history, according to a report by Bloomberg Economics. Bloomberg Economics notes that the Houthis may have been waiting to maximize their impact, with the shift of oil shipments to the Red Sea providing that opportunity. Saudi crude exports through the Red Sea have risen to 5m barrels per day. The economic fallout of a Red Sea disruption would be significant. Some projections suggest that if the Strait of Hormuz remains closed for eight weeks, oil prices could reach $200.

Source: Daily News Egypt April 01, 2026 18:25 UTC