With the monumentally stupid US/UK attack on Yemen today, the odds just went way up that oil exports through both the Suez/Red Sea route and the Straight of Hormuz will be seriously compromised.
This is an exponential escalation of the Gaza war. It was launched by the USA/UK after Blinken spent the past four days traipsing around the Middle East claiming to be working hard to avoid escalation.
It comes the day the International Court of Justice opened hearings into Israel's Gaza genocide. Coincidence?
Two hundred bucks a barrel should translate into roughly four dollars a litre at the pumps. Consider it your "standing with Uncle Sam tax."
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