Houthi rebels seize control of Bab el-Mandeb strait as drone attack shuts major Saudi oil pipeline, threatening 4% of global supply

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Houthi rebels seize control of Bab el-Mandeb strait as drone attack shuts major Saudi oil pipeline, threatening 4% of global supply

⚡ Markets: Severe and immediate supply-side shock for crude oil. Bullish for Brent and WTI prices, tanker stocks, and energy producers outside the Persian Gulf. Saudi Aramco shares fell on the news.BrentWTISaudi AramcoTanker stocks

Iran-aligned Houthi rebels have taken control of strategic territory around the Bab el-Mandeb strait, a key global shipping chokepoint. Separately, a drone attack, reportedly launched from Iraq, forced Saudi Arabia to shut down its main East-West pipeline, which carries crude to the Red Sea. Traders report that without the pipeline, Saudi export stocks could be depleted within days, potentially removing up to 4% of global oil supply from the market.

West MSM 9West Right 3Regional 19Google West 4Financial press 1Non-West Ind. 7West Left 1Google Non-West 2Non-West State 119 countries

47 sources across the spectrum

West MSMReuters — Saudi pipeline outage threatens loss of 4% of global oil supply

West RightThe Telegraph — Supplies of Saudi oil could run out ‘within days’ after pipeline attack

RegionalThe Hindu — Saudi pipeline outage threatens loss of 4% of global oil supply

RegionalJapan Times — Saudis shut down oil pipeline as Houthis tighten grip on Red Sea shipping

RegionalThe Straits Times — Yemen’s Houthis say Saudi Arabia launched over 50 strikes against them in 24 hours

RegionalYnetnews — Rapid Houthi gains in Bab el-Mandab put Israel on alert as Red Sea threat grows

West MSMLe Monde — Le contrôle des houthistes sur le détroit de Bab Al-Mandab fait planer une nouvelle menace sur l’économie mondiale

West MSMReuters — Saudi shares drop after pipeline attack, leading Gulf decline

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