Published Jul 20, 2026, 12:30 PM ET · Updated 4 months ago · 1 source

Houthi maritime embargo creates global oil supply crisis

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Original Report

The Houthi announcement of a maritime embargo against Saudi Arabia, effective immediately, blocking 4.5 million barrels per day of Saudi oil exports through the Bab Al-Mandab Strait, combined with the existing Strait of Hormuz blockade, creates a 'worst-case scenario' for global oil supply and economic stability, particularly impacting Asian, European, and US economies.