Global Markets

New Threat to Global Oil Supplies

Houthis in Yemen threaten to blockade Red Sea ports and embargo Saudi Arabia, compounding the turmoil caused by the US-Iran confrontation in the Strait of Hormuz.

The Houthis in Yemen are seeking to broaden the impact of the US-Iran war by blockading Red Sea ports and threatening an embargo on Saudi Arabia, which could further disrupt global oil supplies already strained by the Strait of Hormuz confrontation.

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31 minJul 21, 2026Global News Podcast

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New threat to global oil supplies

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Key takeaways

What to know before you press play.

01

Houthis Target Saudi Arabia

The Tehran-backed Houthi group warned it would impose an embargo on Saudi Arabia, the top oil exporter, after trading fire with the kingdom for the first time in years.

2
02

Red Sea Blockade Strategy

Houthis aim to broaden the impact of the US-Iran war by blockading Red Sea ports, targeting maritime traffic through the Bab el-Mandeb strait.

13
03

Compounding Oil Turmoil

Disruption in the Bab el-Mandeb could compound the existing turmoil caused by the US and Iran confrontation in the Strait of Hormuz.

3
04

Broader Economic Context

The episode also covers Donald Trump announcing 50% tariffs on Canadian goods, adding to global economic uncertainty.

4

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Keep the question moving.

01

How does the Houthi blockade affect shipping costs?

02

What is the current status of the US-Iran war?

03

How do Canadian tariffs impact the US economy?

Background reading

The context behind the episode.

Geopolitics

US-Iran War Impact

The confrontation between the US and Iran in the Strait of Hormuz has already caused significant turmoil for global oil supplies. The Houthis' actions in the Red Sea threaten to exacerbate this instability.

13

Questions

Questions to carry into the episode.

Who are the Houthis threatening?

The Houthis are threatening Saudi Arabia, the top oil exporter, with an embargo.

2
How does this relate to the US-Iran war?

The Houthis are seeking to broaden the impact of the US-Iran war by blockading Red Sea ports.

1
What other economic news is covered?

Donald Trump announced 50% tariffs on Canadian goods.

4

Sources and disclosure

Where this guide comes from.

The Global News Podcast brings you the breaking news you need to hear, as it happens. Listen for the latest headlines and current affairs from around the world. Politics, economics, climate, business, technology, health – we cover it all with expert analysis and insight.

  1. Publisher show notes

    Houthis in Yemen are seeking to broaden the impact of the US-Iran war with a blockade of Red Sea ports.

  2. Publisher show notes

    The Tehran-backed group warned it would impose an "embargo" on the top oil exporter Saudi Arabia, after the two sides traded fire for the first time in years.

  3. Publisher show notes

    Disruption to maritime traffic through the Bab el-Mandeb could further compound the turmoil caused by the confrontation between the US and Iran in the Strait of Hormuz.

  4. Publisher show notes

    Also: Donald Trump announces 50% tariffs on Canadian goods.

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    The social media influencers Andrew and Tristan Tate appear in court in the US in connection with new British rape and sex-trafficking-related charges.

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    And how fitness trackers can alert women that they are pregnant before they know it themselves.

  10. Publisher show notes

    The Global News Podcast brings you the breaking news you need to hear, as it happens.

  11. Publisher show notes

    Listen for the latest headlines and current affairs from around the world.

  12. Publisher show notes

    Politics, economics, climate, business, technology, health – we cover it all with expert analysis and insight.

  13. Publisher show notes

    Get the news that matters, delivered twice a day on weekdays and daily at weekends, plus special bonus episodes reacting to urgent breaking stories.

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    Get in touch: globalpodcast@bbc.co.uk Photo: Aramco tanks and oil pipe at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia Credit: REUTERS/Ahmed Jadallah/File Photo

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