Houthi Attack Halts Shipping Traffic Through Bab el-Mandeb
A recent attack by Yemeni Houthi forces on Saudi oil installations has disrupted shipping traffic through the Bab el-Mandeb strait, according to data from Kpler. On July 26, only eleven commodity vessels passed through the strait, the lowest level in months.
The Houthis are attempting to blockade Saudi exports, expanding the US-Iran conflict that has already choked oil supply through the Strait of Hormuz. As a result, prices of physical crude cargoes in the Middle East, Europe, and Africa jumped to two-month highs last week.
Among the vessels that passed through Bab el-Mandeb on July 26 were three very large crude carriers (VLCCs) heading to load Saudi crude at the port of Yanbu. Two of these VLCCs were bound for eastern China's Ningbo and Zhoushan ports, respectively.
The disruption in shipping traffic is a consequence of the Houthi's naval blockade declaration on July 25. According to Kpler data, fewer than ten commodity vessels passed through the Strait of Hormuz daily over the weekend, despite the US and Iran pausing strikes in the Middle East.