Hot News Review: Houthi Forces Block Red Sea to Open a New Front, Forcing Saudi Oil Tankers to Reroute

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智通财经2026/07/22 00:01

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The Yemeni Houthi armed group announced on Monday a maritime blockade against Saudi Arabia, threatening to attack any vessel loading or unloading Saudi oil. This declaration quickly had an effect: two tankers that had just loaded crude oil at the Saudi Red Sea port of Yanbu, bound for China and India respectively, turned back on Tuesday and headed for the Suez Canal instead. This marks the first confirmed adjustment of commercial tanker routes since the Houthi embargo announcement.
The Houthi threat has opened up a new front in the US-Iran war. Since the war disrupted passage through the Strait of Hormuz, the Red Sea has become the main alternative route for the export of millions of barrels of Saudi oil—crude is delivered by pipeline to Yanbu port for export. If the Houthis entirely blockade this alternative route, global oil supply would be severely impacted.
Meanwhile, the US-Iran military confrontation continues to escalate. Overnight, US forces bombed targets in southern and western Iran, while Iran launched strikes on US facilities in Bahrain, Kuwait, and Jordan. A tanker was attacked in the Strait of Hormuz, forcing the crew to abandon the ship and evacuate. Kpler data shows that only four cargo vessels passed through the Strait of Hormuz on Monday, with most using the northern channel near the Iranian coast.
As for international oil prices, Brent crude rose above $91 per barrel and US gasoline prices climbed back above $4 per gallon. US President Trump stated that the Houthis have not actually blockaded the Bab el-Mandeb Strait, but warned that if they do, the US will take action.
Diplomatic efforts continue. A senior Iranian official revealed that Tehran has received a proposal from mediators for a 10-day ceasefire. Iran's Interior Minister visited Pakistan to ask Islamabad to continue its mediation efforts. During a meeting with the Lebanese President, Trump stated that Iran is "very eager to meet," but that the US side is not interested until Iran is ready for substantive talks.

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Hot News Review: Houthi Forces Block Red Sea to Open a New Front, Forcing Saudi Oil Tankers to Reroute

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