Houthis Declare Naval Blockade on Saudi Arabia as Red Sea Crisis Deepens
Yemen’s Iran-aligned Houthis declared an immediate naval blockade on Saudi Arabia on Monday, Reuters reported, bringing the U.S.-Iran war officially to the southern entrance of the Red Sea and threatening an export route used by Riyadh to bypass disruptions in the Strait of Hormuz. The group said t
Source: OilPrice.com
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DW NOTE
The Houthis have been attacking shipping since 2023, forcing most Red Sea traffic through the Cape of Good Hope and adding weeks to Europe-Asia routes. A Saudi blockade announcement means nothing if ships were already avoiding the area. The oil price tells you what matters: Brent at $89 is down 25% from yearly highs despite 10–14 million barrels per day offline through Hormuz. The market has priced in disruption and moved on.