According to ship-tracking data, at least seven oil tankers have made U-turns near Yemen since the Iran-affiliated Houthi group declared a “maritime embargo” against Saudi Arabia on Monday. After the embargo was declared, all of the ships that were sailing to or from Saudi ports abruptly changed course.
The Red Sea, which connects the Mediterranean and Gulf of Aden via two choke points—the Bab al-Mandab Strait between Yemen and the Horn of Africa and the Suez Canal in Egypt—transports around 15% of all maritime trade worldwide.
Since the US-Israeli war with Iran effectively closed the Strait of Hormuz, severely restricting the flow of gas and oil from the Gulf, the Red Sea has been a vital route for Saudi oil exports. Rosemary Kelanic of the US-based Defense Priorities think group stated that this has had a “major role in relieving pressure to global markets” and that “prices will go up” if the Houthis continue to limit commerce.
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