Live, rolling coverage of business, economics and financial markets as traders fear attacks from Yemen and Iran creating ‘two-chokepoint problem’

The Houthi attacks off the coast of Yemen targeted Saudi Arabian tankers, but two Chinese vessels carrying Saudi oil appear to be trying to exit the Bab el-Mandeb strait, Reuters reports.

From Reuters:

Two Chinese supertankers carrying a combined 4 million barrels of Saudi Arabian oil are exiting the Red Sea via the Bab el-Mandeb strait on Thursday, shipping data showed, even as a Saudi vessel came under attack in the region.

The ships’ attempt to transit the strait will clearly test how tightly the Houthis will impose the naval blockade on Saudi Arabia they announced on Monday.