Houthis open a second maritime front: Saudi tankers struck in the Red Sea, oil tops $100
Yemen's Houthis claimed missile and drone attacks on two Saudi oil tankers in the Red Sea. Saudi authorities confirmed a fire at the bow of the ENCELIA; all crew were reported safe. The strike marks the movement's entry into the US-Iran war and pushed oil above $100 a barrel for the first time since May. One strike has changed the map. The Gulf confrontation now has a second maritime front at Bab el-Mandeb, and the world's two most important shipping chokepoints are contested at the same time. Shipping lines built up routing around the Cape of Good Hope in 2024-25. They will switch back to it faster than insurers can reprice, and the knock-on effects (longer transits, port congestion, containers in the wrong places) will reach European supply chains within two to three weeks. Don't start from a blank page: dust off the continuity annexes written during the last Red Sea crisis. The playbook is the same. The political context is sharper, because this time the attacks are formally tied to an active war between states with US forces engaged.