Saudi Oil Shipments Rerouted Around Africa Amid Houthi Strikes

Saudi Arabia is taking unprecedented measures to protect its oil shipments from Houthi attacks in the Red Sea. According to Reuters, the kingdom has resorted to secrecy and alternative shipping routes to keep crude exports flowing.

Shipments from Yanbu are being redirected through Egypt's Sumed pipeline or around Africa, which adds an estimated $5 to $9 per barrel and up to 30 days to journeys toward Asian markets.

The rerouting is a costly endeavor, but military sources claim it's necessary to counter the threat of Houthi strikes. The conflict has already taken a toll on global oil-market stability, with over 200 Houthi fighters reportedly killed in fierce fighting around Yemen's Taiz province.