Oil Keeps Flowing From Red Sea As Hormuz Bypass Stays Open

By Weilun Soon and Julian Lee

Jul 24, 2026 (Bloomberg) –Millions of barrels of Saudi Arabian crude are still being shipped from the nation’s Red Sea coast to the global market, despite threats and attacks by Yemen’s Houthi militants against the kingdom’s shipping that have the potential to further destabilize the global oil trade.

Days after the Iran-backed group declared a blockade of Saudi Arabia, Western shipowners appear to be making plans to avoid Bab el-Mandeb strait, at the southern end of the sea, or to sail through it with their transponders turned off. Meanwhile, vessels owned by Iran-affiliated nations like