Houthi Missile Strike on Saudi Oil Tanker Fails to Spark Oil Price Surge

The Houthi forces in Yemen claimed responsibility for a ballistic missile strike on the Saudi-flagged VLCC Amzan in the Red Sea off Yanbu on August 24, 2026. The attack was part of their 'siege for siege' campaign enforcing a maritime ban on Saudi-linked shipping.

Houthi military spokesman Yahya Saree stated that forces targeted the Amzan with a ballistic missile in a 'precise and direct' hit, causing a fire aboard the vessel and prompting other ships to flee. The attack also included separate strikes on Saudi military convoys and positions near the Yemen-Saudi border.

Saudi national shipping company Bahri confirmed that its vessel Amzan was involved in a maritime/security-related incident in the Red Sea earlier that day, with all crew members safe and no injuries reported.

Despite the attack, oil prices moved lower on August 24, 2026, rather than spiking. Brent crude traded in the low-to-mid $92, $93 range, while West Texas Intermediate (WTI) declined into the mid-$85 range.