Houthis Force Saudi Oil Tankers To U-Turn in Red Sea
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The just-declared (as of Monday) Houthi blockade on Saudi maritime shipping has already begun to witness ill-effects, as reports emerge of two oil tankers having made U-turns while initially en route toward the Suez Canal.
The reports say their crews received threats from Houthi militants in Yemen.
The emergingdetails: Two oil tankers which loaded Saudi crude for China and India made U-turns in the Red Sea and headed toward the Suez following a warning from Yemen’s Houthi militia.
...The group, in an email sent to shipping companies, warned them not to load or discharge cargo at Saudi Arabian ports and said such activity may result in being targeted “in any location”.
Dollar and yields spiking as oil rises.... West Texas Intermediate (WTI) has reached six-week highs on Tuesday.
Amid a spate of fresh attacks on Gulf states, the IRGC claimed its cruise missiles destroyed Amazon's central data infrastructure in Bahrain and also hit US air defense systems.
Bahraini, US and Amazon officials issued no response in the immediate aftermath.
The IRGC said its Aerospace Force targeted and "destroyed" the central data infrastructure hub in Bahrain using several cruise missiles.
It further stated that "US air defense systems and radar installations in the Bahraini areas of Muharraq and Riffa were also targeted" in the attack.
If accurate this highlights yet again that billions of dollars worth of infrastructure is going up in flames in the Gulf, and that defense against missiles and drones has been waning For a second consecutive day, Kuwait is reportingattacks on power-generation and water-desalination plants.
The fresh assault caused fires and disrupted electricity generation, amid an emergency response and efforts begin restoring affected units.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
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| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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