Houthis Announce Naval Blockade on Saudi Arabia, Raising New Threat to Oil Supplies

Yemen’s Houthi movement announced Monday it is imposing a naval blockade on Saudi Arabia, opening another front in its involvement in the broader war between the United States and Iran. The move threatens to widen disruptions to global energy supplies and shipping well beyond the Gulf region. Iran had reportedly urged the Houthis to shut down the Bab el-Mandeb gateway to the Red Sea if U.S. strikes on Iranian power infrastructure continued.

In a statement, the Houthis’ armed forces declared a maritime embargo against Saudi Arabia, framing it as retaliation for what they described as an unjust blockade imposed on Yemen. Saudi Arabia had not issued a response as of Monday.

Oil Markets Feel the Pressure

A complete closure of the Bab el Mandeb strait could cut global oil supply by roughly 7%, since most Saudi exports would be unable to leave the region. This comes on top of an already significant 10% reduction in global oil flows tied to the ongoing Gulf war. Oil prices briefly spiked above $90 a barrel Monday before easing slightly after Iran’s Foreign Ministry confirmed mediators had presented new proposals, including talk of a possible 10-day ceasefire to help save a fragile interim agreement reached last month.