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Houthi Tanker Attacks Spur $100 Brent, Bab el-Mandeb Blockade

7/27/2026

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Houthis Attack
  • Houthi rebels attacked two Saudi oil tankers in the Red Sea, causing fires and announcing a blockade of shipping through Bab el-Mandeb on 27 July.
  • The attacks lifted Brent crude above $100 a barrel, its highest price since May.
  • EU policy chief Kaja Kallas said the Houthis must stop actions that endanger international shipping.
  • Saudi Arabia rerouted 3.65 million barrels per day of crude to Yanbu via an overland pipeline to bypass Hormuz.
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