A digital billboard featuring Houthi leader Abdul-Malik al-Houthi on a street in Sana’a, Yemen, on Sept 11.
PHOTO: EPA

‘These waters aren’t safe’: Gulf tankers are running out of ways to export oil

· The Straits Times
  • Houthi militants backed by Iran gained control of Yemen's Red Sea port Mokha, threatening a vital oil export route and further restricting Gulf energy corridors.
  • Shipping through the Strait of Hormuz remains highly dangerous, with numerous attacks on vessels and at least 22 sailors killed since February.
  • Saudi Arabia's oil exports dropped to a 13-year low, while US efforts to secure sea routes face limited options to end the conflict or lower energy prices.

LONDON – The world’s most valuable energy corridors are pinching shut.

On Sept 11, Houthi militants backed by Iran expanded their control of the Red Sea, threatening a critical route for Persian Gulf crude.