Yemen's Houthis declare naval blockade against Saudi Arabia

Houthis close the Red Sea to Saudi Arabia: oil reacts

On Wednesday night, Yemen's Houthi insurgency announced a naval blockade against Saudi Arabia in the Red Sea. Without a conventional navy, the Houthis use mines, naval drones and anti-ship missiles to deter commercial traffic bound for Saudi ports. The news, which some had dismissed as outdated, is current: the announcement came this very week.

The first impact has already been felt in the markets. Brent crude jumped to 97 dollars a barrel, a rise that reflects the risk of disruption along one of the world's busiest energy routes. Saudi Arabia imports and exports oil through the Red Sea, and any credible threat to the Bab el-Mandeb strait sends risk premiums soaring.

The international response, for now, is limited to statements. While some analysts consider a ground operation in Yemen unviable —the lessons of Afghanistan and Iraq weigh heavily—, the option of a surgical missile strike remains on the table. On the Saudi side, the capacity for retaliation is overwhelming, but the Houthis have shown resilience to bombing for years.

The scenario recalls 2019, when Houthi attacks on Aramco facilities temporarily cut Saudi production in half. Now, the naval blockade adds a new factor: freedom of navigation in the Red Sea, also key for European trade. The unsettling figure: with Brent trading at 97 dollars, some are already calculating how much higher it could go if the blockade holds.