Energy Expert Warns Houthis Gain Upper Hand, Iran Benefits from Red Sea Disruptions
Dr. Amit Mor, an energy expert, stated on 103FM that the Houthi control and attacks on Saudi oil infrastructure have driven up prices. He warned that the perceived weakness of the United States in responding to these disruptions allows Iran to emerge as a victor.
Mor explained that the duration of the disruptions to Saudi and other Gulf oil supplies will determine future price levels. He noted that current prices are significantly lower than those seen between 2010 and 2014, which would equate to $110-120 today, and that the global energy market is less reliant on Gulf oil than in the past.
Regarding Israel's position, Mor indicated that if current price levels persist through the end of the month, prices are likely to rise, though he expressed uncertainty. He asserted that Israel would not initiate attacks on the Houthis unless attacked first, and certainly would not intervene if the US, under a potential Trump administration, chose not to act.
"At this stage, there is no doubt they have the upper hand, and they have proven to the world that they control critical checkpoints and straits," Mor stated. He concluded that as the United States demonstrates weakness and fails to effectively reopen traffic through the straits, Iran, provided its economy remains stable, stands to benefit and emerge victorious.
