The Houthi rebels in Yemen have intensified attacks targeting Saudi Arabia's oil exports, leading to a significant drop in vessel traffic through the Bab el-Mandeb Strait, a crucial gateway in the Red Sea.
According to shipping analytics firm Kepler, only 11 cargo ships passed through the Bab el-Mandeb Strait on July 26, the lowest number in recent months. Among these, 7 were oil tankers.
Since declaring a maritime blockade on July 20 aimed at Saudi oil exports, the Houthis have escalated threats against ships and energy facilities. They claimed to have attacked Saudi state oil company Aramco's facilities in Yanbu and Jizan on July 25, although the details and extent of the damage have not been independently verified.
The Bab el-Mandeb Strait has been a key alternative route for Saudi Arabia to avoid disruptions in the Strait of Hormuz. The kingdom transports oil produced in its eastern fields to the Red Sea port of Yanbu via an east-west pipeline before exporting it to Asia through the Bab el-Mandeb Strait.
However, as the risk of Houthi attacks increases, some oil tankers are opting to bypass the Bab el-Mandeb Strait. Vessels heading from Yanbu to Asia are now taking a longer route, passing through the Suez Canal in the northern Red Sea and rounding the Cape of Good Hope at the southern tip of Africa.
According to ship tracking firm Vortexa, the volume of oil transported through the Suez Canal this month has reached its highest level in two and a half years. Additionally, oil flowing through the Sumed pipeline, which connects the Red Sea and the Mediterranean, has increased by 50% compared to previous deliveries.
Longer shipping routes lead to higher costs for fuel and insurance. Gregory Brew, a senior analyst at Eurasia Group, noted, "Saudi Arabia can export oil, but it will take significantly longer and cost more to transport it to Asian markets," adding that this could exert additional upward pressure on international oil prices.
Traffic through the Strait of Hormuz, which Saudi Arabia previously relied on, remains low. Kepler reported that fewer than 10 cargo ships passed through the Strait of Hormuz over the weekend, with only 3 vessels recorded as having operated without their Automatic Identification System (AIS) on July 25.
* This article has been translated by AI.
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