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The Houthis claimed to have attacked two oil tankers. The price of Brent crude surpassed $95.

Vesna Pedchenko

Vesna Pedchenko

Photo: Aninka Bongers-Sutherland / Shutterstock.com

Photo: Aninka Bongers-Sutherland / Shutterstock.com

The Iran-backed Houthis in Yemen claimed to have carried out attacks on two Saudi Arabian oil tankers, according to Bloomberg. Oil prices subsequently surged in over-the-counter trading: the price of the benchmark Brent crude briefly exceeded $95 per barrel.

According to the Houthis, they attacked the tankers Encelia and Layla with missiles and drones because the vessels had violated the declared blockade against Saudi Arabia in the Red Sea. The Houthis have threatened to strike any ships traveling to or from the country’s ports.

According to the agency, this appears to be the first attack on tankers traveling this route since the start of the war between the U.S. and Iran. The route from the Red Sea through the Bab el-Mandeb Strait has become particularly important for Saudi oil exports following the closure of the Strait of Hormuz, allowing the kingdom to maintain shipments of millions of barrels throughout the Iranian crisis.

The Houthis have announced a blockade of ships from Saudi Arabia in the Bab el-Mandeb Strait—what does this mean for the oil market? / Photo: Below the Sky / Shutterstock.com

The Houthis Want to Block the “Second Strait of Hormuz”: Three Questions About the New Threat to Oil Prices


This article was AI-translated and verified by a human editor

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