Oil surges past $95 as U.S. downplays Iran diplomacy and a 2nd key trade route is disrupted

Inja News جولای 22, 2026 2 minutes read

Those attacks are one reason why traffic in the Strait of Hormuz remains extremely low.

On Monday, only 13 ships crossed the vital waterway and on Tuesday that number was only 9, according to an analysis of ship movements by MarineTraffic.

The jump in prices also came shortly after Iranian-backed Houthi rebels in Yemen said they would seek to impose a maritime blockade on Saudi Arabia, a new front in a conflict that appears to be expanding.

As a result, the “Bab el-Mandeb risk picture is deteriorating,” said an analyst at MarineTraffic on Wednesday, referring to the strait that is the gateway to the Red Sea.

Just like the Strait of Hormuz, the Bab el-Mandeb is a critical transit route for global oil supplies and any disruption, or even a serious threat of disruption, could unsettle markets again.It had been a key release valve for exports, particularly from Saudi Arabia, that could not transit Hormuz.

An NBC News analysis of MarineTraffic data showed that a number of crude oil tankers changed direction Tuesday in the Red Sea following the Houthi’s threat.

Still, traffic though the Bab el-Mandeb Strait remained steady with 73 ships passing on Tuesday, although it was down slightly from Monday, the firm said.

“The traffic count should also be read alongside growing evidence of route hesitation around vessels approaching the Gulf of Aden and Bab el-Mandeb,” MarineTraffic analyst Dimitris Ampatzidis wrote.

“The Houthis’ announced maritime blockade on Saudi Arabia has shippers nervous, with several tankers moving to avoid the Bab el-Mandeb Strait,” added ING commodities analysts. “This would force tankers to enter and exit the Red Sea via the Suez Canal, adding significant time and expense to voyages to Asia.”

ING added that between the Straits of Hormuz and Bab el-Mandeb, oil supply risks appear to be building once again.

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