WorldExplainer: How Houthi Red Sea attacks could impact global oil markets

Yemen’s Houthi group says it attacked two Saudi oil tankers, one near Yanbu port in the Red Sea and another in the Gulf of Aden. The claims came after the group announced a naval blockade on shipping to Saudi Arabia last month. The Bab el-Mandeb Strait is only 29 kilometres wide at its narrowest point and carries about 66 percent of Saudi oil cargo, as well as 10 to 12 percent of global trade. Renewed threats could divert tankers to longer routes, adding weeks to trips and raising freight and fuel costs worldwide.