"We've also seen the Tigrayans now... joined by Eritrea... supporting each other." Eritrea occupies a strategic coastline along the Red Sea (a critical global shipping choke point). Conflict involving Eritrea and Ethiopia often spills over into regional instability. Any threat to Red Sea security generally leads to a risk premium in oil and shipping rates. LONG oil as a geopolitical hedge. The conflict remains contained inland and does not impact Red Sea logistics.
"We've also seen the Tigrayans now... joined by Eritrea... supporting each other." Eritrea occupies a strategic coastline along the Red Sea (a critical global shipping choke point). Conflict involving Eritrea and Ethiopia often spills over into regional instability. Any threat to Red Sea security generally leads to a risk premium in oil and shipping rates. LONG oil as a geopolitical hedge. The conflict remains contained inland and does not impact Red Sea logistics.