Red Sea War Risk Premiums Surge as Houthi Saudi Blockade Bites
🚢 RED SEA — Insurers are now pricing two chokepoints at once, not one. 📌 LOOK CLOSER: Red Sea was Europe's rerouting option when Hormuz closed — that exit is now priced shut too. War risk premiums rising means operators face double jeopardy: Hormuz uninsurable, Red Sea unaffordable. European refiners importing via Suez lose their last viable alternative. Cargo that can't move east or west doesn't move at all — and production shutdowns follow within days.
