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Escalating Houthi Attacks Threaten Global Oil Supply and Prices

KVIA•Monday, March 30, 2026 at 6:01 PM•CNN Newsource

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Recent actions by Iran-backed Houthi militants have escalated tensions in the Middle East, potentially jeopardizing crucial oil supply routes. Saudi Arabia has been diverting oil to its Red Sea port of Yanbu, with 4.6 million barrels shipped in the past two weeks. However, renewed Houthi attacks on vessels in the Bab-el-Mandeb Strait could disrupt this flow, raising global oil prices significantly. As Asia relies heavily on Middle Eastern oil, countries like the Philippines and South Korea are already implementing measures to conserve energy amidst rising costs. If the Houthis effectively block the strait, Asia may face severe crude shortages as early as April.

Key Details: • 4.6 million barrels of oil shipped from Yanbu in the last two weeks. • Brent oil prices have surged approximately 50% since February 28, now around $110 per barrel. • Potential for prices to exceed $150 per barrel if the Bab-el-Mandeb Strait is closed. • Asia, relying on 60% of its oil from the Middle East, may face crude shortages starting in April.

oil middle-east energy-crisis global-economy houthi

People & Organizations

Rystad EnergyAsiaKplerYanbuMohammed MansourRichard BronzeArtem AbramovBab-el-Mandeb StraitEnergy Aspects

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