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Houthi Red Sea Blockade Targets Saudi Vessels, Brent Rises
7/22/2026
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Houthi Blockade
- On July 20 2026, Iran-backed Houthi rebels announced a maritime blockade of Saudi vessels in the Red Sea’s Bab el-Mandeb Strait.
- Analysts warned the blockade could double sailing distances, raise freight rates and fuel prices, worsening cost burdens for vulnerable consumers.
- Brent crude rose to $89.70 a barrel, adding inflation pressure to Western and Asian economies.
- Saudi Arabia condemned the embargo, pledging necessary measures to protect its ships under international law.
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