CNBC reports that attacks on ships transiting the Bab el-Mandeb strait in the southern Red Sea threaten to cut off millions of barrels per day of Saudi crude oil exports.
Live updates
Loading updates…
Key facts
- CNBC reports that attacks on ships transiting the Bab el-Mandeb strait threaten Saudi crude oil exports.
- The Bab el-Mandeb lies at the southern end of the Red Sea.
- Millions of barrels per day of Saudi crude could be affected, according to CNBC.
- Details such as the identity of those responsible and the current status of shipping through the strait are not established in the available reporting.
Attacks on ships transiting the Bab el-Mandeb strait in the southern Red Sea threaten to cut off millions of barrels per day of Saudi crude oil exports, according to CNBC.
The Bab el-Mandeb sits at the southern end of the Red Sea and is a key passage for crude oil shipments. CNBC’s reporting ties the reported threat specifically to Saudi oil exports that rely on the route.
Further details, including the full scope of the attacks, the parties responsible and the current impact on shipping and oil flows, are not established in the available reporting. Honest Abe News will update this story as more information is confirmed.
Why it matters
The Bab el-Mandeb is a vital route for global oil shipments, and any sustained threat to Saudi crude exports transiting the strait has the potential to affect energy prices and shipping costs, according to CNBC's characterisation of the risk.
Frequently asked questions
Where are the attacks taking place?
According to CNBC, the attacks are on ships transiting the Bab el-Mandeb in the southern Red Sea.
What weapons are being used in the attacks?
A naval group reports that Houthi forces have deployed both missiles and drones against ships, according to CNBC.
Why do these attacks matter for oil markets?
CNBC reports that the attacks threaten to cut off millions of barrels per day of Saudi crude oil exports that move through the Bab el-Mandeb.
Timeline
- Houthis deploy missiles and drones to attack ships in southern Red Sea, naval group says
CNBC Top News: Attacks on ships transiting the Bab el-Mandeb threaten to cut off millions of barrels per day of Saudi crude oil exports.