A sea inlet of the Indian Ocean, between Africa and Asia.
The USS Gerald R. Ford, deployed for nine months, arrived at Souda Bay in Crete for maintenance after supporting operations in the Red Sea and Middle East. The ship experienced a fire and crew issues but remains fully mission capable, according to US military sources.
Britain remains involved in discussions with allies over escorting shipping through the Strait of Hormuz amid ongoing threats from Iran. Despite US-led bombing, Iran continues to pose a significant threat with weapons and disaggregated command systems, closing the strait and impacting global oil markets. UK and allies consider multinational patrols, but US focus remains on bombing Iran’s missile sites.
The Houthis in Yemen have issued warnings of potential military intervention if new alliances oppose Iran or if the Red Sea is used for hostile operations. They have signaled readiness to act if escalation continues, raising fears of broader regional conflict amid ongoing Yemen and Gaza conflicts. The situation remains tense as the group carefully weighs its next move.
On March 28-29, 2026, Yemen's Iran-aligned Houthis fired ballistic and cruise missiles, plus drones, targeting Israeli military sites in southern Israel, marking their first direct strikes in the ongoing Middle East war. Israel intercepted all attacks. The Houthis threaten to disrupt the Bab al-Mandab Strait, a vital shipping route, potentially worsening global energy supply challenges already strained by the Strait of Hormuz blockade.
Saudi Aramco has reported a $32.5 billion profit for Q1 2026, driven by higher volumes and a full-capacity East-West Pipeline that is helping mitigate global energy shocks despite continuing disruption in the Strait of Hormuz. The company notes ongoing headwinds from Hormuz while maintaining its dividend and investing in growth.
The Red Sea shipping route faces disruption as Houthi threats widen the risk to Israeli-linked vessels amid Iran’s ongoing closure of the Strait of Hormuz. Saudi Arabia diverts crude to Yanbu, while energy markets react to escalation in the region.
Campaigns protest rising energy costs as Shell and other oil majors report rising profits; governments are weighing measures to curb profiteering while households confront higher energy and food prices amid global tensions.
Oil markets are facing a prolonged impact from the current crisis in the Strait of Hormuz, with analysts and industry leaders warning that a full rebound in flows may take years. Saudi and UAE officials emphasise resilience strategies to cushion prices, while other observers caution that the damage to global trading systems will extend beyond the immediate conflict.
The Houthis have declared a complete ban on Israeli-enabled maritime traffic in the Red Sea, signaling escalation amid clashes between Iran and Israel. The move follows threats of a naval blockade and comes as the Bab al-Mandab and Hormuz chokepoints risk disrupting global energy shipments.