Two tankers carrying Saudi crude make U-turns in Red Sea after Houthi warning - Reuters

On July 20, 2026, Houthis declared a maritime blockade against Saudi Arabia in the Red Sea. Following this warning, two tankers transporting Saudi crude oil performed U-turns and turned back. This escalation in the region has created significant threats to global energy markets, with projections suggesting that oil prices could rise above $100. The situation remains critical as shipping vessels react to the Houthi declarations and the resulting instability within the Red Sea maritime corridor.