His answer was "not much," warning that prices could soar well into triple-digit territory if the Strait of Hormuz remains blocked through August and threats to Red Sea shipping intensify. Paraphrasing: No closure of the Bab el-Mandeb strait; blockade only targets "the Saudi side," but that leaves unclear whether it includes (or not) foreign vessels lifting Saudi crude (or only Saudi oil tankers). "Given the security situation in the southern part of the Red Sea, the vessel is sailing via the Suez Canal and around the Cape to Asia. Rerouting around the Cape of Good Hope instead of transiting Bab el-Mandeb adds weeks of sailing time and sharply increases freight, fuel and insurance costs. After shifting exports to Yanbu and Bab el Mandeb, Houthi attacks are forcing Asian cargoes north through Suez and then around Africa.