Houthis target Saudi energy assets again

Recent attacks on Saudi Arabia's energy infrastructure have once again put global crude supplies at risk, as regional tensions rise across important shipping lanes. Yemen's Iran-aligned Houthi militants have been launching ballistic missiles and drones against Saudi Arabian forces in the Al-Mokha region, according to the group's spokesperson, Yahya Sare’e, on the social media platform X. A cargo ship off the coast of Al-Mokha, in the southern Red Sea, came under attack due to the ongoing air assault, with casualties reported, as per the United Kingdom Maritime Trade Operations (UKMTO) agency.

The Houthi group has continued to enforce their blockade of the Bab al-Mandeb Strait, which prevents vessels from transporting Saudi Arabian crude oil through the Red Sea. This critical gateway, responsible for about 7% of global seaborne oil flows, has only seen 18 vessels transit since the recent strikes, as reported by market intelligence firm Windward.

Houthi warnings against Saudi-affiliated cargo have turned the waters connecting the Red Sea and the Arabian Sea via the Bab al-Mandeb strait into a new area for maritime assaults.

Earlier this week, the Houthis targeted Saudi Arabia's state-owned oil company Aramco's 400,000 b/d refinery in Jizan, with operations forced to cease at the end of July following previous Houthi strikes that damaged fuel and oil storage sites. The militant group has also struck the port of Yanbu, a vital hub for most of Saudi oil shipments, in recent days.

By launching attacks on Red Sea ports in Saudi Arabia, the Houthis are putting the safety of the OPEC leader's backup oil and fuel shipping routes at risk, according to market analysts.