Topic
saudi arabia
Logistics Houthis Claim Missile and Drone Strikes on Two Saudi Tankers in Red Sea Escalation
Yemen's Houthi movement claimed to have struck two Saudi oil tankers in the Red Sea on July 23, 2026, the first attacks since declaring a naval blockade on Saudi Arabia. One tanker, the Encelia, was hit by an unknown projectile, causing a fire. The Houthis declared the Bab el-Mandeb strait closed to Saudi-flagged tankers, raising risks for shipping lanes and energy infrastructure.
Commodities Crude oil tops $96 as Houthis target Saudi tankers in Red Sea
Brent crude futures surged above $96 per barrel on Thursday following reports that Iran-backed Houthis attacked two Saudi oil tankers in the Red Sea. US military strikes on Iranian assets and an EIA report showing a build in US crude inventories added to market dynamics.
Logistics Houthi Naval Blockade on Saudi Arabia Tightens Oil Supply Pincer, Disrupts Red Sea Tanker Routes
Yemen's Houthis have declared a naval blockade on Saudi Arabia, causing tankers carrying Saudi crude and a Chinese car carrier to turn back in the Red Sea. The disruption threatens the fallback export route via the Red Sea, which Saudi Arabia had relied on after the Strait of Hormuz became too dangerous. Asian refiners are now seeking longer routes via Suez and the Cape of Good Hope, adding weeks to voyages and significantly increasing freight and bunker costs. Analysts warn that combined disruption of Hormuz and Bab el-Mandeb could affect routes carrying roughly a quarter of global oil supply.
Logistics Tankers Carrying Saudi Crude for India, China Make U-Turn in Red Sea on Houthi Threats
Three tankers carrying Saudi crude oil bound for China and India reversed course in the Red Sea on Tuesday after Yemen's Houthi militia warned of a naval blockade on Saudi ports. The vessels are now heading toward the Suez Canal, lengthening voyages and raising insurance costs.
Logistics Houthis Declare Naval Blockade on Saudi Arabia, Escalating Red Sea Shipping Risk
Yemen's Houthi movement declared a naval blockade on Saudi Arabia on Monday, widening a conflict that has disrupted Red Sea shipping since November 2023. Security firm Ambrey warns that Saudi-flagged vessels and ships calling at Saudi ports face high risk. The move threatens key energy export routes and could further strain global supply chains.
Commodities Fresh Houthi Maritime Blockade Threatens Saudi Crude Exports via Red Sea Route
The Iran-backed Houthi movement in Yemen has announced a maritime blockade against Saudi Arabia, threatening crude exports via the Red Sea. Brent crude edged higher amid the fresh geopolitical risk, with Saudi Arabia having rerouted exports through Yanbu port after Strait of Hormuz disruptions.
Trade Saudi Low-Cost Carrier Flyadeal Launches Daily Hyderabad-Riyadh Flights into India
Saudi low-cost carrier flyadeal has commenced daily flights between Hyderabad and Riyadh, marking its entry into the Indian aviation market. The Times of India reported the launch on July 6, 2026, but no further details on schedules or cargo services were provided.
Commodities Saudi Arabia slashes August crude prices for Asia by $11 a barrel in biggest cut in over 20 years
Saudi Arabia has slashed its official selling price for August crude oil deliveries to Asia by $11 per barrel, marking the largest cut in over two decades, according to a Times of India report.
Commodities Saudi Arabia Slashes Crude Prices by $11/Barrel, Deepest Cut in 26 Years
Saudi Arabia cut its crude oil prices by $11 per barrel for August, the deepest single-month reduction in 26 years, amid rising OPEC+ output and resumption of flows through the Strait of Hormuz. The discount on Arab Light Crude follows a $6/barrel cut for July, and brings prices back to pre-war levels. Brent crude futures fell 47 cents to $71.7 a barrel, while OPEC+ agreed to further increase output by 188,000 bpd from August.
Commodities ADES Deepens Saudi Presence with $285M Acquisition of Saipem’s Drilling Subsidiary
ADES has agreed to acquire Saipem's Saudi Arabian subsidiary for $285 million, adding five premium jackup rigs. The deal strengthens ADES' position in Saudi Arabia and marks its entry into Mexico, increasing its fleet to 88 offshore units and adding approximately $1 billion to its backlog.