Houthi maritime embargo of Saudi Arabia through Bab al Mandeb Strait threatens 4.5M barrels/day of crude oil exports.
Macro & Markets ·
Yemen's Houthis declared a maritime embargo targeting Saudi Arabia at the Bab al Mandeb Strait, a critical chokepoint for regional oil shipments. The blockade threatens 4.5 million barrels per day of Saudi crude oil exports that transit the waterway. Two separate sources reported the development.