Saudi Strikes Send Shockwaves Through Global Energy Markets as Houthi Maritime Embargo Looms

Saudi Arabia's military launched airstrikes against Houthi-controlled positions in Yemen on July 24, 2026, marking an end to years of relative calm and sending shockwaves through global energy markets. The strikes targeted 'legitimate military installations' involved in assaults on shipping routes, including telecom facilities.

The retaliatory action came after the Houthis attacked two Saudi oil tankers, the Encelia and the Layla, in the Red Sea just days earlier on July 22-23. The Houthi group claimed responsibility for targeting both tankers.

One civilian woman was reportedly injured during the strikes on Kamaran Island, effectively shattering an informal truce that had held since March 2022. The Houthis have also announced a maritime embargo on Saudi Arabia, which could disrupt the country's oil export capacity of roughly 5 million barrels per day.