Some tankers are avoiding the Red Sea and will sail to Asia through the Suez Canal after the Houthis began striking ships carrying Saudi oil in the waterway, a new report detailed.
Reuters cited the example of a Danish-flagged tanker carrying oil products called Torm Innovation. A spokesperson told the outlet that "given the security situation in the southern part of the Red Sea, the vessel is sailing via the Suez and around the Cape to Asia. This reflects our cautious approach to crew safety, which remains our highest priority." "We will continue to monitor the situation closely as it develops," the spokesperson added.
The outlet added that diverting through the Suez Canal adds around 30 days of journey to destinations if ships can't go through Bab-el Mandeb. The closure of the waterway by the Houthis could exacerbate potential shortages with the Strait of Hormuz also closed due to increased clashes between the U.S. and Iran.
The Houthis have received help from Iran to help them enforce the blockade, according to another report.
Citing sources familiar with the matter, Reuters detailed that Iran flew military commanders, equipment and gold to the country.
"The IRGC commanders travelled there to support Houthi operations and provide training on new missile systems," one source told the outlet, adding that the flight also included gold to fund the activities.
The Houthis soon after announced that tankers carrying Saudi oil would be banned from crossing the Red, and on Thursday struck two vessels.
CNBC noted that Saudi Arabia has been diverting millions of barrels of oil per day from the Strait of Hormuz to the Red Sea as a result of the war. The Houthis preventing Riyadh from doing so further exacerbates the disruption taking place in oil markets.
The war appears to be far from a ceasefire in the meantime. President Donald Trump is in "revenge mode" against Iran as talks have failed to yield a lasting peace, another report said.
According to the Wall Street Journal, senior administration officials are saying Trump believes only continued escalation will achieve results.
The outlet detailed that the President described Iranian leaders as scumbags and lunatics in a recent meeting in the Oval Office as he grew frustrated about the lack of progress.
Elsewhere, a report by The New York Times claimed that Iran rejected a ceasefire proposal sent by the U.S. through the Iraqi prime minister on Thursday. The outlet noted that Ali al-Zaidi conveyed the proposal to Tehran after visiting Washington earlier this month.
However, he was told that Tehran was not interested in a "temporary deal" that would not address the status of the Hormuz Strait, a sticking point in negotiations that led to the current flare up.
