At least seven oil tankers have made U-turns near Yemen since the Iran-linked Houthi group declared a “maritime embargo” against Saudi Arabia on Monday, according to ship-tracking data. All of the ships were on their way to or from Saudi ports when the embargo was declared, and they changed course abruptly.
Nearly 15% of world sea traffic passes through the Red Sea, which connects the Mediterranean and Gulf of Aden via two choke points: the Suez Canal in Egypt and the Bab al-Mandab Strait between Yemen and the Horn of Africa.
The Red Sea has been a crucial conduit for Saudi oil exports since the US-Israeli conflict with Iran effectively closed the Strait of Hormuz, drastically restricting the flow of oil and gas from the Gulf.
This has played a “major role in relieving pressure on global markets,” and if the Houthis continue to restrict trade, “prices will rise,” according to Rosemary Kelanic of the US-based Defence Priorities think tank. According to maritime intelligence firm Kpler, 20 vessels entered the Red Sea the day before the Houthis launched their blockade, while 22 withdrew via the Bab al-Mandeb Strait.
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