Tensions in the critical Red Sea waterway have surged after Iran sent a warship, the Alborz destroyer, through the Bab al-Mandeb Strait.
The move comes after the U.S. Navy destroyed three boats of Houthi rebels, killing ten militants, following a distress call from a Singapore-flagged vessel Maersk Hangzhou which had come under fire. A rebel spokesman has maintained that the boats were engaged in “official duties to secure maritime routes.”
Meanwhile, global crude benchmark Brent surged by 2.5% to reach $78.97 a barrel, while the US West Texas Intermediate gained 2.5% to $73.43 per barrel in Asia trading hours.
While the situation remains tense, Iran’s state media released no further details of the Alborz destroyer’s mission. However, operations are periodically conducted in the Red Sea to protect shipping, said the media outlet. This latest move suggests that a further escalation of hostilities is possible in the region.
The waterway is a key shipping route for global trade, but recent attacks by Houthi rebels have highlighted the strategic importance of the Red Sea for global oil transportation. The rise in oil prices reflects growing concern that continued instability in the region could disrupt the flow of oil from one of the world’s busiest shipping lanes.
Iran has been accused of supplying Houthi rebels with weapons, although Tehran denies this. The situation in Yemen remains unstable, with the Houthis at odds with the Saudi-led coalition that supports the Yemeni government. The conflict has killed more than 230,000 people and created a humanitarian crisis.
The Bab al-Mandeb Strait connects the Red Sea with the Gulf of Aden and is one of the most important routes for oil tankers. A narrow chokepoint, the Strait is just 20 miles wide at its narrowest point, through which some 4.8 million barrels of crude oil are shipped daily. Tensions around the Strait have been high for some time, with the US advising pilots to exercise “extreme caution” when flying over the area
