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Houthi threats force two Saudi oil tankers to U-turn in Red Sea

Crude prices hit multi-week highs as shipping disruptions raised risks that oil could reach $120 if fighting continues.

Reported · Written up by our desk · Energy

OilPrice reports that Houthi threats disrupted Saudi crude shipments, forcing two tankers in the Red Sea to turn around after receiving warnings while heading toward the Suez Canal.

The tankers were carrying Saudi crude to China and India, and their U-turns reflected the impact of the newly declared Houthi maritime blockade on regional shipping.

OilPrice also said the escalation included Iran claims of strikes on infrastructure in Bahrain, Kuwait, and Jordan, while Kuwait reported a second day of attacks on power and desalination plants.

OilPrice added that crude moved to multi-week highs amid the disruptions, with warnings that prices could reach $120 if the conflict continues.

Latest closeWTI crude $79.00 ▼0.8%

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