Houthis divert two Saudi oil tankers
The escalation of threats from the Houthi movement in the Red Sea has forced two Saudi oil tankers heading to China and India to change their routes and steer clear of the Bab el-Mandeb Strait. Instead of passing through the strait, they headed north through the Suez Canal out of concern for potential targeting. This comes amid the Houthis' blockade of navigation related to Saudi oil and an increase in regional tensions, which threaten global energy supply security and heighten risks of disrupting Gulf oil exports. Consequently, oil prices have risen, with Brent crude surpassing $91 per barrel, and there are expectations of higher transportation and insurance costs, along with negative impacts on global markets.
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