A drone attack that damaged two tankers near Egypt’s Damietta port has pushed the Middle East energy conflict into a new phase, putting the Suez Canal and the nearby Sumed pipeline at the centre of market worries.
The Wednesday strike, which happened on a branch of the Nile Delta close to the Mediterranean, has not been claimed by Iran or the Houthis, Reuters reported. Publicly, no one has threatened the Suez Canal either, but the incident proved that the waterway is within range of the drones and missiles used by both sides.
Until now, the Suez Canal and Sumed pipeline offered safer northern corridors for Saudi crude exports from the Red Sea, while tankers using the Strait of Hormuz and Bab el-Mandab came under fire. The Sumed line runs through Egypt from the Red Sea to the Mediterranean port of Sidi Kerir.
Saul Kavonic, head of energy research at MST Marquee, told Reuters that the risk may now extend to the Red Sea passage, including the longer Mediterranean route. He pointed to about five million barrels per day that could currently bypass the Strait of Hormuz.
More Saudi crude heads toward Suez
Saudi Arabia moved most of its crude to the Red Sea and the Yanbu terminal after the war started. Since last week, Houthi threats and attacks have discouraged many tanker operators from using that route, and Kpler data show a growing number of Saudi cargoes sailing north toward Suez and the Sumed pipeline instead.
For Asian buyers, this means longer voyages around Africa rather than south through the Gulf of Aden. George Morris of the energy analytics firm Vortexa said there has been a clear rise in tankers carrying crude and condensate north after loading in the Red Sea, attributing the change to Houthi threats.
Loadings on the Sumed pipeline reached 28.79 million barrels in July, up from 19.52 million in April. The increase followed a Houthi threat on 20 July aimed at stopping Saudi oil from passing through Bab el-Mandab.
One strait still usable, but not for everyone
Oil continues to move south through Bab el-Mandab, although the volume is about half of what it was at the start of the month. Morris noted that some vessels, including Chinese tankers, had received permission from the Houthis to pass, while more ships are travelling with tracking systems turned off.
Iran has threatened to halt all energy exports from the Middle East, arguing that oil should not leave the region while the United States blocks Iranian tankers. The Houthis have also declared a blockade of Saudi maritime shipping, covering vessels trying to carry crude to the Mediterranean after loading in Yanbu.
The attack near Damietta confirmed that the Suez Canal zone lies within reach of drones and rockets used by both Iran and the Houthis.
Źródło: WNP.PL, Fot. PAP/EPA/ABEDIN TAHERKENAREH
