Strait of Hormuz and Bab el-Mandeb tensions raise oil market risk, Ecuador exposed

Escalating supply disruptions in the Strait of Hormuz and Bab el-Mandeb are partially confirmed to be redirecting global crude demand towards African suppliers. This shift is impacting both Eastern and Western markets, though the scale and durability of this pivot remain uncertain. Concurrently, rising tensions in these chokepoints are increasing pressure on global oil markets, with Ecuador facing additional exposure due to its reliance on oil exports.