Houthis in the News Again

The Houthi announcement that they'd blockade Saudi tankers from transiting the Bab-el-Mandab has sent oil prices back toward the $100/barrel mark again.

Earlier this week, the Iran-aligned Houthis announced they had expanded their campaign against maritime traffic by targeting Saudi oil shipments through the Bab el-Mandeb Strait, the key chokepoint on the Red Sea, through which Saudi Arabia has re-directed most of its crude oil shipments to bypass the Strait of Hormuz.

China-bound tankers appear to move through Bab el-Mandeb, but some others, including Denmark-flagged products tanker Torm Innovation, have made U-turns in the Red Sea and are now heading north toward the Suez Canal.

Despite the Houthi blockade, “two China-crewed, China-bound tankers loaded at Yanbu and cleared Bab al-Mandeb apparently untouched,” maritime intelligence firm Windward said on Thursday.

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