Houthis' Reported Attacks Spark Shipping Traffic Drop
Shipping traffic through the Gulf's key maritime chokepoints has significantly decreased following a reported missile attack by Yemen's Iran-aligned Houthis on Saudi oil tankers. According to shipping data from Kpler, only two vessels transited the Strait of Hormuz on Wednesday, down from eight the previous day. This is a substantial drop from the pre-February 28 levels, when around 130 to 140 ships would typically transit the waterway.
The Bab-el-Mandeb strait also saw a significant reduction in shipping traffic, with only one commodity vessel crossing on Wednesday, down from 20 the previous day. The Houthis have been imposing a naval blockade on Saudi Arabia's Red Sea ports since last month in response to what they describe as a Saudi siege on Yemen.
The incident has raised concerns about the stability of global oil supplies and the potential for further disruptions to shipping traffic in the region. However, there is currently no confirmation from Saudi Arabia on either incident.