- Yemen Houthi rebels claim more attacks on Saudi Aramco oil sites
- According to Saudi Arabia's state-run news agency, a fire broke out at a fuel-storage tank at a depot in the city of Jazan after being hit by a Houthi missile
- Attacks from the rebel group have ramped up in recent months, prompting the Kingdom to seek help from the U.S. and other allies
- AEGIS notes that while the Houthi-led attacks rarely cause any significant damage, the frequency of the attacks has increased recently
- Downed vessel blocking the Suez Canal may take at least a week to remove (Bloomberg)
- The canal blockage is currently holding up about 2 MMBbl/d of oil flow, according to Braemar estimates
- Rates for oil tankers have also increased since the canal became disrupted, reaching $17,000/day - its highest levels since June 2020
- AEGIS notes that the price response to the canal obstruction has been relatively muted thus far as other bearish factors, namely weakening demand, have pressured oil prices this week. The prompt-contract price is slated for a $1.40/Bbl decrease on the week