- Insurance costs for tankers linked to Saudi crude exports via the Red Sea have climbed sharply, eroding the economics of the route.
- The Red Sea had been viewed as a safe escape route for Saudi oil, but that assumption is now in question.
- Unlike the Strait of Hormuz, the US is providing no military support in the Red Sea, leaving operators to absorb the premium increase.
Quotes
“The cost of insuring an oil t”