Seven oil tankers abruptly changed course near Yemen after Houthi rebels declared a maritime embargo against Saudi Arabia — a move that could ripple through global trade. With the Red Sea handling 15% of world shipping and now under threat, the EU has urged vessels tied to Saudi, U.S., or Israeli interests to steer clear. As tensions escalate from Yemen’s civil war and retaliatory strikes, any closure of the Bab al-Mandab Strait could force Saudi oil to detour around Africa — potentially jacking up global energy prices and freight costs.
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