Commodities
Saudi Oil Tankers Cross Bab el-Mandeb Amid Strait of Hormuz Traffic Slowdown
Two Saudi oil tankers crossed the Bab el-Mandeb Strait over the weekend, including one bound for Reliance's Sikka port in India. The move comes as vessel traffic through the Strait of Hormuz slowed following reported tanker attacks.
The number of commodity vessels that passed through the Bab el-Mandeb strait fell to 18 on Sunday, from 27 on Saturday and 28 on Friday, according to Kpler data.
The Iran-aligned Houthis declared a maritime embargo against Saudi Arabia on July 20, opening a new front against the U.S. and its allies in the Iran war and expanding attacks on tankers carrying global energy and other supplies.