A cargo ship was struck in the Red Sea's Bab al-Mandab strait, with maritime security sources reporting three people killed. The attack adds to a run of incidents in the Strait of Hormuz and keeps crude oil prices underpinned this week.
Maritime security sources and coast guards in the region report that a cargo ship was targeted in the Red Sea's Bab al-Mandab strait, with the vessel's deck struck and three persons killed in the attack.
The strike extends a pattern of disruption that now spans two chokepoints at once. The Strait of Hormuz has also been hit by attacks, and Saudi Arabia sits in the crosshairs of the renewed threats along Bab al-Mandab.
Vessel transits fall sharply
Before the conflict began, 120 to 140 ships passed through the Bab al-Mandab strait daily. That figure has since dropped to 25 to 40 ships per day.
The current level marks a pickup from July's lows, when Houthi threats peaked. Still, incidents like this one keep sending a warning to shipping companies operating in the region. The Strait of Hormuz shows an even sharper drop, with daily ship transits down to single digits.
Oil prices stay underpinned
The renewed attacks continue to support crude markets. WTI crude traded up 2.5% to $84.22 on the day.
Source: Investinglive
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