Houthi threats to the Bab el-Mandeb Strait raise concerns over oil supply disruptions. WTI reaching $110 in July 2026 at 0.2% YES.

Saudi tanker diverts to Suez Canal amid Houthi threats. WTI reaching $110 in July 2026 at 0.5% YES.

A critical post-Hormuz reroute for Saudi crude and products exports could now be choked off, leaving the northern route as the kingdom's only real option.