Houthis strike two Saudi oil tankers, closing Bab el-Mandeb Strait
The Houthis have escalated their campaign against Saudi shipping, striking two tankers and threatening to hit Saudi oil refineries next.
The attack marks a significant escalation in the Houthis’ campaign against Saudi shipping and threatens to further disrupt tanker traffic through the Bab el-Mandeb Strait.
A declared closure of the strait to Saudi flagged tankers, combined with reports that nearly ten vessels have already diverted, points to rising freight and insurance costs and could prompt shippers to reroute around the Cape of Good Hope.