Oil Tankers Flee Red Sea, Deliveries Delayed a Month After Houthi Attacks

The Houthi group, based in Yemen, has intensified strikes on vessels linked to Saudi Arabia, forcing a dramatic shift in global oil transport. Empty supertankers are now sailing to Egypt’s Mediterranean port of Sidi Kerir to load Saudi crude, avoiding waters near Yemen’s Houthi rebels [205780]. Asian refiners face a one-month delay in crude deliveries as oil tankers abandon the Bab al-Mandab strait due to Houthi attacks, taking longer alternative routes around Africa [202777]. All oil tankers heading to or from Saudi ports have abruptly changed direction following a new threat from the Houthi group [202756].

The Houthis attacked two Saudi oil tankers in the Red Sea, their first reported strike on a vessel since they announced a blockade of Saudi-linked shipping through the Bab el-Mandeb Strait [203686]. A Greek-operated tanker carrying crude from Saudi Arabia exited the Red Sea with its tracking transponder switched off, a tactic used to avoid detection by militants [203477]. Indonesia condemned the attacks on commercial vessels in the Red Sea, calling them a serious threat to maritime security [203584].

The Bab el-Mandeb strait connects the Red Sea to the Gulf of Aden and is a critical route for oil tankers heading to Europe and North America [203686]. Without safe passage, tankers are taking longer routes around Africa, adding weeks to shipping times and disrupting the steady flow of oil to refineries in Asia [202777].

Meanwhile, oil prices fell for a third straight day as traders focused on signs that the U.S. and Iran have paused direct attacks, and as Iran and Oman discussed reopening the Strait of Hormuz [205698]. Brent crude fell 6% after Iran and the United States paused military strikes near the Strait of Hormuz, which carries about a fifth of the world’s oil [205127]. The drop marks the sharpest single-day decline in weeks, though analysts warn that tensions could resume quickly [205127].