Recent developments in the Red Sea have heightened concerns over shipping security as Yemen’s Iran-backed Houthis have claimed multiple attacks on Saudi oil tankers, including a significant missile strike on the vessel Wafaa. The Houthis have vowed to expand their operations against Saudi ships, exacerbating existing tensions and prompting shipping reroutes around Africa to avoid the blockades. As a result, oil prices have surged in response to these assertions of aggression, highlighting the fragile state of Middle East oil supplies amid ongoing geopolitical tensions. The threat posed by the Houthis risks further disruption to crucial shipping lanes such as Bab el-Mandeb and Hormuz, raising shipping costs and complicating crude oil logistics for Saudi and international traders.