An oil tanker was attacked near Saudi waters, causing oil prices to rise. Earlier, the Houthi forces claimed to have "imposed a maritime blockade on Saudi Arabia."

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The Houthi forces launched an attack on a Saudi oil tanker in the Red Sea, pushing the Middle Eastern conflict into a new and dangerous phase, and international oil prices subsequently surged sharply.

According to CCTV News on the 23rd, the UK Maritime Trade Operations (UKMTO) reported that a security incident occurred about 70 nautical miles from Al Shuqaiq, Saudi Arabia. The captain reported that the vessel was hit by an unidentified projectile, resulting in a fire onboard. The incident is under further investigation.

Subsequently, the Houthi forces issued a statement claiming responsibility for firing missiles and drones at two Saudi oil tankers—Encelia and Layla—on the grounds that these vessels violated their declared blockade order.

After the news broke, international oil prices quickly surged. WTI crude futures once rose nearly 2%, trading at about $88 per barrel; Brent crude broke through $95 per barrel in after-hours trading before narrowing the gain. This attack marks the first strike against oil tankers in the Red Sea, signifying a new front in the regional conflict. Previously, the Yemeni Houthis announced a maritime blockade against Saudi Arabia, intensifying market concerns over disruptions in Middle Eastern energy supplies.

Houthi Forces Announce "Maritime Blockade", Escalating Threats

According to CCTV News, on the evening of the 20th local time, the Houthi Humanitarian Operations Coordination Center in Sanaa sent emails to multiple shipping companies, warning that vessels trading with Saudi ports may face military attacks, further expanding the previously announced maritime blockade against Saudi Arabia.

The Houthis explicitly stated that the restrictions not only apply to ships flying the Saudi flag, but also to vessels loading or unloading cargo at Saudi ports. They urged shipping companies to take "appropriate precautionary measures" when planning voyages involving Saudi ports, warning that relevant ships could "become targets" within their operational range.

On the 20th, Houthi spokesperson Yahya Saree declared an immediate maritime blockade against Saudi Arabia, calling the decision a "blockade-for-blockade" measure. Kuwait, Qatar and other nations have expressed opposition and reiterated their support for freedom of navigation under the framework of international law.

The Red Sea Becomes a New Frontline, Compounding Supply Risks

This incident is the first attack on oil tankers in the Red Sea. Against the backdrop of sustained tensions in the Strait of Hormuz, the regional conflict has opened a new front. Recently, Iran has repeatedly attacked ships in the Strait of Hormuz, a crucial channel for Persian Gulf oil exports.

The Red Sea holds important strategic significance for Saudi Arabia. This waterway has become Saudi Arabia’s key alternative export route, allowing the country to bypass the Strait of Hormuz and deliver millions of barrels of crude oil daily to global customers. If Red Sea shipping lanes are blocked, Saudi export capacity would be severely affected.

Daniel Hynes, Senior Commodities Strategist at ANZ Group, said, “This Red Sea attack is a serious escalation of the conflict. If this route is disrupted, oil market supply tightness will only worsen.”

Brent Crude Has Risen Nearly 30% This Month; Analysts Warn of Triple-Digit Oil Prices

Brent crude has gained nearly 30% this month. Some analysts believe that if Middle East tensions persist, oil prices could return to triple digits later this year.

In a broader regional context, the U.S. has launched airstrikes against Iran for 12 consecutive days, while Iran retaliated with attacks on Kuwait, with Kuwait bearing the brunt of Iran’s counterstrikes. Trump threatened to attack bridges and power stations, even targets inside Tehran, and once again threatened strikes on suspected Iranian nuclear facilities, “Pickaxe Mountain.”

Bob McNally, founder and president of Rapidan Energy Group, warned that if the conflict around the Strait of Hormuz spreads to the Red Sea, oil prices could surge significantly. Both the U.S. and Iran have downplayed prospects for negotiation, and the possibility of sustained hostilities has increased, which would further tighten global oil market supply.

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