Saudi oil tankers bound for China and India make U-turn after Houthi threat in Red Sea
Two Saudi oil tankers, including the very large crude carrier Xin Long Yang, reversed course toward the Suez route after the Iran-backed Houthi group threatened to target ships in the Red Sea. This escalation in Houthi activity raises concerns over maritime safety and could disrupt global oil supplies, potentially increasing prices. The Bab el-Mandeb Strait, a crucial chokepoint for oil shipments to Asia, is now under threat, prompting tankers to consider longer and costlier routes.