Key Oil Chokepoints in Mideast Face Disruption as Threats Mount

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessKey Oil Chokepoints in Mideast Face Disruption as Threats MountShipping disruptions in key Middle East chokepoints intensified as the US-Iran war grinds on, with vessels in the Red Sea making unusual maneuvers, while visible traffic through the Strait of Hormuz sank.Author of the article:Weilun Soon and Nicholas Lua You can save this article by registering for free here. Or sign-in if you have an account.The Gas King was seen U-turning to head toward the Suez Canal in the north of the Red Sea. Bab el-Mandeb is to the south. via Bloomberg(Bloomberg) — Shipping disruptions in key Middle East chokepoints intensified as the US-Iran war grinds on, with vessels in the Red Sea making unusual maneuvers, while visible traffic through the Strait of Hormuz sank. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountIn the Red Sea, at least one vessel u-turned to head north toward the Suez Canal, while others paused their journeys, maritime-tracking data showed. The voyage shifts follow threats from the Tehran-backed Houthi militant group in Yemen to fully blockade all ships calling at Saudi Arabia’s ports.In the Strait of Hormuz — which links the Persian Gulf to global markets — only three commodity vessels were observed transiting on Tuesday, Kpler tracking data showed. That’s the lowest daily count since early May. Early Wednesday, the waterway remained deserted, with no observable traffic.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againGlobal energy markets are on edge as the conflict between the US and Iran reignites, with both sides trading tit-for-tat strikes for more than a week. At the heart of concerns are signs that exports via the Red Sea — a crucial conduit for Saudi flows rerouted from the Persian Gulf — are now at risk given the Houthi threat. Brent futures have spiked more than quarter this month.The Houthi militant group in Yemen is ready to attack shipping from positions near the Bab el-Mandeb strait at the southern end of the Red Sea, according to a global monitoring body for naval security.“The Houthis have completed preparations to attack shipping, including the deployment of missiles and drones,” the Joint Maritime Information Center said in an alert late Tuesday, citing sources it did not identify.In the Red Sea, liquefied petroleum gas tanker Gas King switched to sailing out of the region via the Suez Canal, after picking up a cargo from the Saudi port of Yanbu. Initially, the very large gas carrier — which appears to be heading for Japan — had been sailing south, only to u-turn.It’s unusual for Asia-bound vessels within the Red Sea to head north given that route entails far higher costs because of the longer voyage around the African continent, plus additional fees to transit the Suez Canal. Separately, supertanker New Explorer, carrying Saudi oil and bound for Singapore, appears to be idling in the Red Sea after picking up a cargo from Yanbu, the data show. It’s unclear why the 2025-built vessel has come to a near-stop, with its current status showing “not under command”.In addition, an Aframax vessel, Lahore, also came to a halt after receiving a Saudi cargo.Earlier this week, a handful of oil tankers were seen pausing and u-turning from their planned routes, after several shipowners received an email from the Houthi rebels warning against calling at Saudi ports. Still, one of those vessels, Xin Long Yang, has since reverted to its original route, and is now sailing toward Bab el-Mandeb.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.In the Red Sea, loadings at the Saudi port of Yanbu — which receives crude flows from Persian Gulf fields via the kingdom’s East-West pipeline — appeared to continue Wednesday, with some tankers signaling that they’re berthed at the facility. On Tuesday, some Asian buyers of Saudi oil were still sending tankers into the Red Sea in the hopes of picking up their cargoes.In the days ahead of the Houthi threat, the kingdom had exported record volumes of crude from its terminals on the Red Sea, shipping out 5.9 million barrels a day from the two terminals at Yanbu in the week up to July 17, according to tanker tracking compiled by Bloomberg.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.