Red Sea Tanker Traffic Falls to Multi-Month Low After Houthi Threats
Tanker traffic through the Bab el-Mandeb Strait slumped to a multi-month low on Sunday amid Houthi attacks on Saudi oil infrastructure on the Red Sea coast. Only 11 tankers carrying commodities transited the Bab el-Mandeb chokepoint between the Red Sea and the Arabian Sea on Sunday, the lowest in mo
Source: OilPrice.com
―
DW NOTE
The Houthis have been hitting tankers for over a year — the news is that carriers are finally routing around them. When shipping costs rise 300% overnight, the price signal eventually works: every ton of crude now steaming around the Cape of Good Hope is a subsidy to whatever regime controls the strait. The Red Sea isn't closed by military force; it's closed because no one will underwrite the hull insurance.