The flow of Middle East energy trade is evolving yet again after attacks on two tankers in the Red Sea by Iran-backed Houthi militants. In a recent maritime security webinar, industry experts highlighted the growing threat to global oil supplies as Houthi attacks on shipping continue to escalate.
The attacks on the Saudi tankers have led to a significant increase in insurance premiums for vessels transiting the Red Sea, making it more expensive for oil buyers to secure crude shipments. This development is likely to have a ripple effect on global oil markets, with some analysts predicting a potential shortage of crude supplies in the coming months.