Houthi Attacks Disrupt Red Sea Shipping, Oil Traffic Slows

Shipping in the Red Sea has slowed down significantly after Yemen's Houthi rebels attacked Saudi oil installations along the coast. The attacks, which are part of a larger conflict between Iran and the US, have disrupted shipping lanes off the coast of Yemen.

According to data from Kpler, only 11 commodity vessels passed through the Bab el-Mandeb strait on Sunday (July 26), the lowest level in months. Seven of these vessels were oil tankers, with three of them heading to the port of Yanbu to load Saudi crude.

Two of these oil tankers are very large crude carriers (VLCCs) and one is a Russian-linked ship. Four vessels exited the Red Sea on Sunday, while another ship is still navigating through the strait.

The Strait of Hormuz also saw reduced traffic over the weekend, with fewer than 10 commodity vessels passing through daily. This comes despite a temporary pause in strikes between the US and Iran.