Two Saudi oil tankers exited the Red Sea through the Bab el-Mandeb strait over the weekend, according to shipping data released on Monday. The number of vessels passing through the strait dropped to 18 on Sunday, down from 27 on Saturday and 28 on Friday, according to Kpler data. This decline reflects ongoing concerns about security in the region, particularly following reports of vessel attacks in the Strait of Hormuz.
Oil prices fell by US$4 a barrel on Monday as US President Donald Trump delayed a potential attack on Iran, opting instead to pursue a quick nuclear deal. The decision aims to halt Tehran's nuclear program and reopen the Strait of Hormuz, a critical shipping route for global oil supplies. The move has contributed to market volatility, with traders reacting to the uncertainty surrounding regional tensions.
The reduced traffic through Bab el-Mandeb and the slowdown in Hormuz highlight the growing impact of security threats on global energy logistics. Analysts suggest that the situation remains fragile, with the potential for further disruptions affecting oil markets and international trade.
