Oil Price Shock On The Way? | Inside Story

The war in Yemen - and sanctions being re-imposed on Iran - is worrying the oil market. Saudi Arabia has ordered its oil tankers to stop sailing through the Bab Al Mandeb Strait off the coast of Yemen after two others were attacked by Houthi rebels who are linked to Iran. Iranian commanders have warned they will order the closure of the gateway to the Gulf through the Strait of Hormuz - if the U.S. blocks its oil exports.

Tensions are rising because of the re-imposition of U.S. sanctions after Donald Trump pulled out of the 2015 nuclear deal. Will regional tensions be further fueled? And what about the price of oil?

Presenter: Peter Dobbie | Guests: Dr Mamdouh Salameh - International Oil Economist; Bassima Alghussein, Chief Executive, Alghussein Global Strategies; Mostafa Khoshcheshm - Political Commentator