Houthis declare naval blockade against Saudi Arabia, raising Middle East tensions

  • Yemen's Houthis declare a naval blockade against Saudi Arabia in an official statement.
  • The Iran-aligned group describes the measure as a maritime embargo against Saudi Arabia.
  • Markets are monitoring the risk of further regional escalation and potential disruptions to energy trade.

Yemen's Houthis announced on Monday a naval blockade against Saudi Arabia, according to a statement reported by Reuters. The group's military spokesperson said the measure takes effect immediately, describing it as a maritime embargo against Saudi Arabia, although no further details were provided on how it would be enforced.

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West Texas Intermediate (WTI) US Oil reacted higher to the headlines, rebounding from daily lows below $80 to trade around $81.35 at the time of writing. The commodity has recovered part of Monday's losses but remains down 0.48% on the day.

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% āļāļēāļĢāđ€āļ›āļĨāļĩāđˆāļĒāļ™āđāļ›āļĨāļ‡ / āļĢāļēāļ„āļē
XBRUSD
āļāļēāļĢāđ€āļ›āļĨāļĩāđˆāļĒāļ™āđāļ›āļĨāļ‡ 1 āļ§āļąāļ™
-25.09%
73.7
XTIUSD
āļāļēāļĢāđ€āļ›āļĨāļĩāđˆāļĒāļ™āđāļ›āļĨāļ‡ 1 āļ§āļąāļ™
-20.32%
70.71
XPTUSD
āļāļēāļĢāđ€āļ›āļĨāļĩāđˆāļĒāļ™āđāļ›āļĨāļ‡ 1 āļ§āļąāļ™
+6.13%
1610.04
XAUUSD
āļāļēāļĢāđ€āļ›āļĨāļĩāđˆāļĒāļ™āđāļ›āļĨāļ‡ 1 āļ§āļąāļ™
-0.25%
3880.33