Gulf Shipping Slows Sharply After Houthi Claims of Missile Attacks on Saudi Oil Tankers

Maritime traffic through two of the world's most critical energy corridors fell sharply on Wednesday after Yemen's Houthi movement claimed it had launched missile attacks targeting Saudi oil tankers, highlighting renewed security risks for global shipping and energy markets.

According to shipping intelligence firm Kpler, only two commodity vessels transited the Strait of Hormuz during the day—one Panama-flagged coal carrier entering the waterway and one Marshall Islands-flagged commodity vessel departing. That compares with eight vessels recorded the previous day and is well below the 130 to 140 daily transits typically seen before the U.S.-Israeli conflict with Iran escalated on February 28, prompting Tehran to close the strategic waterway.

Traffic also weakened significantly at the Bab el-Mandeb Strait, another vital shipping route linking the Red Sea to the Gulf of Aden. Kpler data showed that only one Bahamas-flagged dry bulk carrier crossed the passage on Wednesday, down from 20 vessels a day earlier, underscoring mounting disruptions across regional trade routes.

The slowdown followed claims by the Iran-aligned Houthi group that it had launched separate missile attacks against Saudi oil tankers near the Red Sea port of Yanbu and in the Gulf of Aden. Saudi Arabia had not confirmed either incident at the time of publication. The Houthis have maintained a naval blockade targeting Saudi shipping in the Red Sea since last month, saying it is a response to what they describe as a Saudi blockade on Yemen—an allegation Riyadh rejects.

The renewed security concerns come as global energy markets remain highly sensitive to developments in the Middle East. The Strait of Hormuz is one of the world's most important oil transit routes, carrying a substantial share of globally traded crude oil and liquefied natural gas, while the Bab el-Mandeb Strait serves as a key gateway between Europe, Asia, and the Middle East. Any prolonged disruption could increase shipping costs, extend delivery times, and tighten energy supplies.

Why It Matters for Traders

Although Brent crude recorded only modest gains as markets assessed the latest developments, the sharp decline in vessel movements suggests geopolitical risks remain elevated despite ongoing diplomatic efforts in the region. Traders should closely monitor shipping activity, official responses from Saudi Arabia and regional authorities, and any changes to maritime security conditions.

For commodity and currency markets, sustained disruptions could support oil prices, increase volatility in energy-linked assets, and influence currencies tied to commodity exports. Investors should also watch freight costs and supply chain indicators, as prolonged shipping constraints may have broader implications for inflation expectations and global trade sentiment.