Saudi oil exports at risk
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By Florence Tan and Siyi Liu SINGAPORE, July 23 (Reuters) - Two Chinese supertankers carrying a combined 4 million barrels of Saudi Arabian oil exited the Red Sea via the Bab el-Mandeb strait on Thursday,
The Saudi authorities confirmed a strike on one of the ships. These are the first claimed attacks since the Iranian-backed Yemeni group announced a blockade on Saudi Arabia.
Saudi Arabia’s nuclear ambitions go back decades, and the country has reasons for building a nuclear energy program that are unrelated to developing weapons.
By Arathy Somasekhar HOUSTON, July 21 (Reuters) - Asian refiners are seeking to ship crude oil from Saudi Arabia's Red Sea port through the Suez Canal and around Africa after Yemen's Iran-aligned Houthis said they would impose a naval blockade on Saudi Arabia.
Even though Saudi Arabia has a lot of oil and other natural resources, the government has recorded budget deficits in nine of the last 10 years.
The Iran war is spreading from sea to sea as attacks erupt in the Bab el-Mandeb Strait.
Oil futures climbed sharply Thursday, with global benchmark Brent crude topping $100 a barrel for the first time since May, after Yemen’s Houthi militants claimed attacks on two Saudi Arabian tankers in the Red Sea.
Oil prices rose after attacks on ships in the Red Sea, and U.S. President Donald Trump's threatened to bomb Iranian infrastructure.