"The 'Double Throat Crisis' reshapes global energy shipping! Saudi oil is forced to embark on a 'Mediterranean major shift.' Oil prices are likely to rise in the short term but hard to decline."

According to Zhithong Finance APP, since the Iran-backed Houthis announced artillery strikes on Saudi energy transport and maritime blockade measures, Riyadh has been seeking alternative export routes outside the Red Sea. As a result, Saudi Arabia has significantly increased oil exports through a pipeline that crosses Egypt to the Mediterranean region.