Yemen Monitor/ Newsroom:
Oil prices rose on Thursday following the Houthi group’s announcement of an attack targeting two Saudi tankers in the Red Sea, in an escalation that sparked concerns over the security of maritime navigation and the potential disruption of global energy supplies.
Brent crude surged by up to 2.6 percent to trade near $96 a barrel, after closing the previous session at its highest level in six weeks, while West Texas Intermediate (WTI) crude crossed $88 a barrel, according to “Bloomberg” data.
The Houthis had announced targeting the two Saudi tankers, Encelia and Laila, with missiles and drones, claiming they violated the naval blockade.
Prior to the group’s announcement, the United Kingdom Maritime Trade Operations (UKMTO) reported that a vessel was attacked southwest of the city of Shuqaiq on the Saudi Red Sea coast, causing a fire to break out at its bow, without disclosing its identity.
According to ship-tracking data reported by “Bloomberg,” the oil products tanker Encelia began transmitting a “not under command” signal, indicating a potential loss of maneuverability due to damage, while the Very Large Crude Carrier (VLCC) Laila continued sailing under its own power.
According to “Bloomberg,” these attacks mark the first direct targeting of oil tankers in the Red Sea, expanding the scope of threats facing shipping traffic in the region amid escalating regional tensions and fears over their impact on global oil flows.
Daniel Hynes, senior commodity strategist at ANZ Group, said the attack represents a “serious escalation” of the conflict, warning that any disruption to navigation in the Red Sea would intensify supply shortages in the oil market.
Brent crude prices had recorded an increase of more than 30 percent during this month, driven by escalating military tensions in the Middle East and concerns over disruptions to global oil supplies.
