Houthi Attacks on Saudi Oil Tankers Send Brent Crude Prices Soaring
The Yemen-based Houthi movement has claimed responsibility for attacks on two Saudi oil tankers in the Red Sea, sparking a fire and prompting a surge in Brent crude prices to over $100 per barrel.
Saudi Arabia confirmed one of the vessels, the Encelia, was struck off its Red Sea coast on Wednesday, while there is no independent confirmation that the second tanker, the Layla, was hit. The Houthis said the ships breached what they call a blockade of Saudi ports and vowed to continue targeting 'the Saudi enemy' at sea.
The Houthi control coastline along the Bab el-Mandeb strait, which connects the Red Sea to the Gulf of Aden, posing a significant threat to oil shipments. Maritime data firm Lloyd's List Intelligence has warned that the attacks are a 'double whammy' for oil shipments, citing continued disruption to shipping in the Strait of Hormuz.
President Trump responded with a warning on Truth Social, stating that if the Houthis continue their aggression, the US will hold Iran responsible due to its ties to the group. Trump claimed that Iran and the Houthis are a 'Surrogate and/or Proxy' and that major military punishment will be inflicted upon them.