Ship traffic drops after Houthis' attacks
There was a significant decline in ship traffic through the Bab el-Mandeb Strait yesterday, Sunday, following attacks by the Yemeni Houthi group on Saudi oil installations along the Red Sea coast. This led to a disruption of navigation in the area and caused oil shipping prices to rise to their highest level in two months. Only 11 ships transited, which is the lowest number in recent months, including large oil tankers headed to Saudi Arabia and China, as well as shipments of Russian and Saudi crude oil to Asia. Regarding the Strait of Hormuz, the number of ships decreased to less than 10 per day at the start of the week, following a slowdown in the movement of oil tankers due to regional tensions, despite the cessation of American and Iranian strikes.
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