Ahmad 
Russian economist Alexander Butavin considered that the continuation of shipping companies to follow alternative routes from the Red Sea will lead to a rise in the price of oil by $ 3-4 per barrel.
According to the Russian expert, the route through the Suez Canal is one of the main routes for seaborne oil supplies, and shipping companies follow alternative routes to the Suez Canal, such as the road around the African continent, increases the transport time between Asia and Europe by 10-14 days, which means an increase in the cost of maritime logistics, and a higher cost of securing goods, and thus the high cost of final fuel.
“Nearly 7 million barrels of oil per day pass through the Red Sea from north to south and vice versa, meaning that if changes in logistics continue for a long time, this could raise spot oil prices by about $3-4 per barrel, since the volume of stock in floating tanks will increase in this case, and the availability of commercial stocks will decrease on a global level, while sending oil via the Northern Sea route is not competitive for the foreseeable future due to harsh weather conditions. Very”.