International protests break out over rising oil and gas costs
Oil market shocks related to wars in the Middle East and Ukraine have triggered international protests, unrest slated to grow as continued shocks send oil and gas prices soaring.
TL;DR
- Wars in the Middle East and Ukraine have caused oil market shocks.
- These shocks have led to international protests and growing unrest.
- Clashes in the Strait of Hormuz increased oil prices.
- A Houthi offensive seized the entire Red Sea coast, disrupting a key oil shipping route.
- Houthi attacks shut down Saudi Arabia’s East-West pipeline.
- Europe and the Middle East experienced the worst price rises, with Syria seeing significant unrest.