Story perspectives

Houthi Missiles Hit Saudi Tanker, Explosion Spurs Insurance Spike

7/29/2026

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Houthi Missile Attack

Houthi rebels said they fired ballistic missiles at a Saudi-flagged tanker in the Red Sea on July 28.
Ship transits through Bab el-Mandeb fell to eleven vessels on July 27, the lowest in months.
Houthi spokesperson Brig. Gen. Yahya Saree said the tanker broke the group’s blockade and ignored warnings.
Chinese officials met Houthi representatives to arrange safe passage for Chinese tankers through the southern Red Sea.

Left

Houthi Tanker Strike

Houthi rebels claimed to fire ballistic missiles at the Saudi-flagged oil tanker NCC Ghazal in the Red Sea on July 28.
The strikes have deepened Yemen’s humanitarian crisis, heightening famine risk and prompting mass displacement across the war-torn country.
UK Maritime Trade Operations reported an explosion aboard the tanker during its Red Sea transit.
War-risk insurance premiums for Red Sea voyages have doubled, reflecting heightened commercial uncertainty.

History

Historical Context

The Iran-Iraq war’s 1984-85 “Tanker War” began when Iraq hit Iranian ports and Iran retaliated against Kuwaiti tankers carrying Iraqi oil from 13 May 1984. Kuwait then asked the United States, which started Operation Earnest Will on 24 July 1987— the largest naval convoy since World War II, escorting re-flagged ships for a year. Houthi missile strikes on Saudi-flagged tankers today revive that threat, drawing Chinese diplomatic talks and higher insurance costs.

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Houthi Missile Attack

Houthi rebels said they fired ballistic missiles at a Saudi-flagged tanker in the Red Sea on July 28.
Ship transits through Bab el-Mandeb fell to eleven vessels on July 27, the lowest in months.
Houthi spokesperson Brig. Gen. Yahya Saree said the tanker broke the group’s blockade and ignored warnings.
Chinese officials met Houthi representatives to arrange safe passage for Chinese tankers through the southern Red Sea.

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