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.
After months of relative stability, clashes in the Strait of Hormuz over the past two weeks have led to a rise in oil prices, followed last week by a much greater shock after a surprise Houthi offensive seized the entire Red Sea coast. The seizure gave the U.S.-designated terrorist group a full chokehold over a key oil shipping route. The Houthis also launched attacks that shut down Saudi Arabia’s East-West pipeline. The resulting price rises were felt worst in Europe and the Middle East, with war-ravaged Syria seeing the worst unrest.
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