Houthi officials claimed responsibility for a missile strike that ignited a fire on the Saudi tanker Encelia. No casualties were reported following the attack.

Houthi rebels have warned global shipping firms that vessels using Saudi ports face the risk of military targeting following a breakdown in regional stability. The escalation impacts the Red Sea, a vital corridor for global trade.

Brent crude and WTI prices surged on July 17, 2026, as renewed military strikes between the U.S. and Iran raise fears of disruptions to global oil corridors.

Tehran is reportedly considering tasking Houthi rebels in Yemen with blocking the Bab el-Mandeb waterway, which now serves as a critical global oil route.

Tehran has informed its Houthi allies to be ready to disrupt the Red Sea shipping lane, which currently serves as a critical alternative for regional oil exports.