Story perspectives

Houthi Embargo Forces Tanker U-turns, Saudi Exports Spike

7/23/2026

Summary

Oil Tankers U-turn

On 21 July 2026, seven oil tankers—Xin Long Yang (?2 million barrels to China) and Rodos (?700,000 barrels to India)—made U-turns in the Red Sea after the Iran-linked Houthi maritime embargo.
Saudi crude exports via the Red Sea rose to about 4.7 million barrels per day, up from 1.6 million the previous year.
Analysts warned that, after WTI hit six-week highs and Brent topped $90 a barrel, prices could reach $120 if disruptions continue.

Summary

Insurers Raise Premiums

War risk insurance premiums rose in the past 24 hours as insurers reassessed the threat to Saudi-linked vessels.
Ambrey warned that vessels calling at Saudi ports are at high risk and urged enhanced mitigation.
Clarksons said a full blockade is unlikely but escalation could divert Yanbu crude toward Europe.
VLCCs in the Suez Canal must unload part of cargo for SUMED pipeline transfer, adding weeks to Asian deliveries.

Summary

Saree Calls Retaliation

Brigadier General Yahya Saree, Houthi spokesperson, called the naval blockade retaliation for Saudi airstrikes on Sana’a Airport.
The Saudi-led coalition announced measures to protect commercial vessels and called Houthi threats maritime piracy.
The coalition warned it will respond firmly to the embargo and will increase naval patrols in the Bab el-Mandeb Strait.
Yemen’s internationally recognised government said its forces hit the Sana’a runway to stop an Iranian aircraft from landing.

History

Historical Context

Saudi Arabia’s coalition launched Operation Decisive Storm on 26 March 2015, imposing an aerial and naval blockade on Yemen and sparking the first large-scale Red Sea attacks. The war has destroyed over 130 health facilities, prompting UN-backed naval escorts. In July 2026, Houthi-linked forces embargoed seven tankers, forcing reroutes and raising insurance costs.

1 of 4

Oil Tankers U-turn

On 21 July 2026, seven oil tankers—Xin Long Yang (?2 million barrels to China) and Rodos (?700,000 barrels to India)—made U-turns in the Red Sea after the Iran-linked Houthi maritime embargo.
Saudi crude exports via the Red Sea rose to about 4.7 million barrels per day, up from 1.6 million the previous year.
Analysts warned that, after WTI hit six-week highs and Brent topped $90 a barrel, prices could reach $120 if disruptions continue.

1 / 4