All articles tagged with #bab al mandab strait
Iran-backed Houthis say they have reached Perim Island in the Bab al-Mandab Strait, a strategic chokepoint that could disrupt Red Sea shipping and Saudi oil exports; the move comes amid wider battlefield gains and heightened oil-price concerns, with the US saying it is in regular contact with regional allies.
A UK-registered cargo ship reported being under attack in the Bab al-Mandab Strait off Yemen, with the crew abandoning the vessel after an explosion. The ship, en route from the UAE to Bulgaria, contacted the Djiboutian Navy before returning to its previous course and speed. The UK Maritime Trade Operations received a report of an incident involving an explosion near a vessel, resulting in damage, and confirmed that the crew had abandoned the ship and were safe. The Houthi group in Yemen has been launching drone and missile attacks in the region, prompting some companies to alter shipping routes, while U.S. and British warplanes have conducted retaliatory strikes.
Despite the recent increase in Houthi ballistic missile and drone attacks on commercial vessels in the Red Sea, the oil market has not experienced significant price swings as experts had anticipated. The attacks have primarily targeted Israeli-linked vessels, while Saudi, Iraqi, and Russian tankers have been spared. Factors such as the availability of alternative shipping routes, the rewiring of global energy flows, and the lack of disruption to oil production have contributed to the market's relative calm. Additionally, tensions between Iran and the US over the war in Gaza have not affected Iran's oil exports.