The energy trade in the Middle East faces renewed challenges after attacks by Iran-backed Houthi militants on Red Sea tankers. Analysts, including Lloyd’s List senior risk analyst Bridget Diakun, warn of a shift from normalization to uncertainty, impacting maritime operations and global oil trade significantly. Traffic in the region has plummeted.
On July 22, 2026, the UAE condemned the Houthi group’s threats of maritime blockades against Saudi Arabia. The Ministry of Foreign Affairs emphasized the right to freedom of navigation under international law and urged the international community to uphold UN Security Council resolutions, reinforcing regional stability and Saudi security.
GCC Secretary General Jasem Mohamed Albudaiwi condemned the Houthi group’s recent allegations against Saudi Arabia, calling them unfounded and a distortion of truth. He reaffirmed Saudi Arabia’s commitment to supporting Yemen, emphasizing the importance of regional security and the need for the international community to address threats to maritime navigation.
Kuwait condemned the Houthi group’s threats against Saudi shipping, reaffirming support for Riyadh and the need to protect navigation under international law. The Kuwaiti Ministry of Foreign Affairs criticized the Houthis’ allegations and urged the international community to uphold UN Security Council resolutions regarding Yemen and maritime security in the Red Sea.
The Red Sea’s strategic significance has surged for oil shipments from Saudi Arabia due to the US-Israeli conflict with Iran, effectively closing the Strait of Hormuz. Amid escalating tensions, the Houthis launched missiles at Abha airport, claiming retaliation for Saudi airstrikes, marking a dangerous resurgence in hostilities.
Saudi Arabia has condemned Houthi accusations of a blockade on Yemen and threats to maritime navigation. The Saudi Ministry of Foreign Affairs emphasized its commitment to humanitarian aid, highlighting over 300 vessels delivering essential supplies to Yemeni ports. The Kingdom supports UN-led peace efforts and urges international cooperation for Yemen’s stability.
Over three months have passed since the last Houthi attack on shipping in the Red Sea, but Suez Canal traffic remains 60% below pre-crisis levels. Despite a cautious return of some carriers, significant uncertainty lingers around security risks and market demand, with shipping lines grappling with financial pressures.
Nine Filipino seafarers from the M/V Eternity C returned to Manila after being held hostage by Houthi rebels for five months. Their arrival at Ninoy Aquino International Airport was facilitated by the Department of Migrant Workers, with support from Oman. They expressed gratitude for their unexpected release just before Christmas.
A Filipino seafarer tragically lost his life during a Houthi attack on the freighter Minervagracht. Reports revealed he was unaware of his right to disembark before entering a dangerous zone. The Philippines’ Department of Migrant Workers emphasized that maritime regulations protect seafarers from being sent into war zones without consent.
The ongoing conflict between Israel and Hamas has escalated tensions in the region, impacting international shipping. A recent attack by Houthi rebels on the Dutch-flagged cargo ship Minervagracht highlights the growing threat posed by these Iranian-backed forces, raising concerns about maritime safety and potential disruptions in global trade routes.
Radio frequency (RF) cyber-attacks by Houthi rebels are increasingly disrupting maritime trade along Yemen’s Red Sea coast. These attacks jam signals and spoof GPS, leading to navigational inaccuracies. Reports of vessels traveling at impossible speeds highlight the threat to the Global Maritime Distress and Safety System, raising urgent safety concerns.
The damaged tanker Sounion, attacked by the Houthis off Yemen, successfully transited the Suez Canal. The operation, managed by Ambrey and Mega Tugs, offloaded 150,000 tons of crude oil in Greece. The Canal Authority oversaw the complex operation, highlighting the challenges of towing the heavily damaged vessel without steering control.
More than three months after the Houthi attack on the laden tanker Sounion, the damaged vessel has been successfully unloaded, averting a potential catastrophic oil spill. Greek officials confirmed the completion of the oil removal process at the anchorage south of the Suez Canal, raising concerns about the extent of the Houthi’s actions.
Houthi militants have stepped up attacks on merchant ships, focusing on tankers and vessels linked to Israel. The product tanker Olympic Spirit was hit in the Red Sea, with minor damage reported. The militants claimed responsibility for the attack and threatened more strikes on ships associated with Israel, America, and Britain.
Yemen’s Houthi group has granted permission for tugboats and rescue ships to reach the damaged crude oil tanker, the Sounion, in the Red Sea. The tanker, carrying 150,000 tonnes of oil, poses a significant environmental threat. The Houthis agreed to allow access after international pressure, despite ongoing conflict in the region.
