Yemen in July 2026: the most important developments in economy
Yemen's economy in July 2026 was tied to oil prices and shipping through the Bab al-Mandab strait, as the Houthis moved against Saudi Arabia. On July 13 the Houthis threatened to close the strait and warned that oil could reach $200 a barrel. On July 20 they announced a maritime embargo on Saudi Arabia. On July 22 a tanker was hit, Brent crude spiked in late trading, and tankers carrying Saudi crude for India and China turned back in the Red Sea. By July 23 Brent held between $90 and above $100 a barrel, with shipping risks at both the Strait of Hormuz and Bab al-Mandab. China's oil tankers continued heading to the Red Sea chokepoint.
Saudi Arabia was reported on July 7 to be considering expanding its oil pipeline to the Red Sea to raise export capacity along a route that bypasses Hormuz; talks were at an early stage. Questions arose over whether Yemen could recover its economic lifeline through a resumption of oil exports amid the conflict.
by WorldBrief & Maksim Micheliov | AI-generated summary
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