Red Sea Oil Chokepoint at Risk as Houthis Target Saudi Tankers

The Hormuz Energy Crisis has escalated into a Red Sea crisis as tensions between Saudi Arabia and Yemen's Houthi rebels intensify.

The Houthis, who control 80% of the Yemeni population, have decided to take advantage of the situation by closing the Red Sea routes for Saudi petroleum.

This move is not just a reaction to Iran's influence in the region but also an attempt by the Houthis to extract concessions from the Saudis and hurt the United States, which has bombed them extensively.

The situation is dire, with diesel and gasoline reserves at historic lows due to the resumption of hostilities.

Saudi Arabia, which relies heavily on oil exports for its economy, is vulnerable as most of its petroleum exports are not going through the Strait of Hormuz but rather through a pipeline to the west that ends up in Yanbu on the Red Sea coast.

The Houthis' decision to target Saudi tankers has sparked a tit-for-tat cycle of strikes between the two parties, which is likely to escalate further.