Houthi Attack Threatens Global Oil Routes Through Red Sea

Houthi rebels have launched a surprise attack on Saudi Arabia's oil tanker fleet, threatening to disrupt global oil routes. The Houthis claim to have struck a Saudi oil tanker off the coast of Yanbu, while also targeting Najran Airport. In response, they announced a naval blockade on Saudi shipping through the Red Sea and Bab al-Mandab strait.

The Red Sea lanes carry 10-12% of global trade, with Saudi oil accounting for about 66% of cargo through Bab al-Mandab. A disruption to these routes could tighten energy markets and have significant consequences for global trade. The Houthis' actions come as tensions between the two nations continue to escalate.