It’s been a week since Yemen’s Iran-backed Houthi rebels stormed down the Red Sea coast, threatening Saudi Arabia’s oil exports and reigniting Yemen’s 12-year civil war. Their advance

The world’s second-largest crude exporter is rerouting crude via dark shipments and ship-to-ship transfers off Oman.

Experts tell BBC Verify the pipeline's closure could cut oil supplies by as much as 3.6 million barrels per day.

Saudi Arabia faces the biggest threat to its oil production since 1932 as Houthis launch attacks near the Red Sea's Bab el-Mandeb Strait, an expert says.

Crude oil futures fell for a second straight session Thursday as concerns eased over Middle East supply disruptions, with Saudi Arabia aiming to ship crude through the Strait of Hormuz as it shifts crude loadings away from the out-of-service Yanbu port and possibly restoring some oil flows soon through its damaged East-West pipeline.

Oil prices fell on Wednesday, retreating after a two-day rally following an unexpectedly large build in U.S. crude inventories, while

Oil prices fell sharply in early Thursday trading as Saudi Arabia’s move to offer additional crude shipments through Oman eased some of the market’s fears over worsening Middle East supply disruptions.

Oil declined for the second consecutive day as the prospect of lost Saudi Arabian volumes returning to the global market pushed prices lower in morning trade.