by winston » Sat Jul 25, 2026 8:56 am
The Houthis Attacked Saudi Oil Tankers in the Red Sea. Riyadh Will Hit Back.
On July 22, the Houthis struck two Saudi oil tankers in the Red Sea under a new embargo targeting Saudi-linked vessels — the first attacks since the Gaza ceasefire.
With the Strait of Hormuz still disrupted, Saudi Arabia has been funneling 4 million barrels per day through Yanbu. That’s now under threat, and Trump has already warned Iran that “major military punishment” is coming.
What triggers a limited tit-for-tat vs. a full Saudi-Houthi escalation
Why Iran is pushing the Houthis to close the Bab el-Mandeb
Which Houthi targets, Saudi Arabia is most likely to hit
How oil prices move from here if Yanbu Port or the East-West Pipeline is hit
The stakes are enormous: Brent crude is already above $100, Saudi Arabia is now the world’s critical swing exporter through the Red Sea and the Houthis have weapons with range to hit Yanbu.
A sustained disruption to Saudi exports would send prices well past May’s $113 peak at a moment when the global economy is already absorbing the Hormuz shock.
Source: RANE Worldview
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