Pulse

Developing storyline

Red Sea/Houthi tensions and their oil-market ripple effects

Houthi attacks in the Red Sea and nearby waters push Gulf states to build pipelines bypassing the Strait of Hormuz while lifting Brent crude near $100, straining import-dependent economies like India's.

4 stories31 sourcesUpdated Jul 24, 2026

Key developments

Jul 23, 2026
Oman coordinates talks with Saudi Arabia, Yemeni parties and the UN envoy to de-escalate Red Sea tensions after Houthi attacks threaten shipping.
6 sources on this →
Jul 23, 2026
Gulf nations including the UAE invest in new pipelines and port capacity to bypass the Strait of Hormuz amid regional tensions.
5 sources on this →
Jul 23, 2026
Brent crude nears $97-$100, raising concerns over India's current account deficit and inflation due to its heavy crude import reliance.
6 sources on this →
Jul 24, 2026
The Mozambique-flagged LPG tanker DISHA, carrying 28 Indian crew, is attacked in Iranian territorial waters near the Strait of Hormuz, with all crew reported safe.

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Stories in this storyline

Photo: Iranian — Wikimedia Commons / Wikimedia Commons

LPG Tanker DISHA Attacked; 28 Indian Crew Safe

The Mozambique-flagged LPG tanker DISHA, carrying 28 Indian crew, came under attack in Iranian territorial waters near the Strait of Hormuz, with India confirming all crew members are safe and that authorities are monitoring the situation. India’s External Affairs Minister Jaishankar condemned attacks on seafarers and stressed that international waterways must remain safe and unimpeded.

14 sources

Photo: U.S. Navy photo by Mass Communication Specialist 2nd Class Kristopher Wilson / Wikimedia Commons (Public domain)

Oman seeks Yemen talks restart after Houthi attack

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14 sources on this →

Oman is coordinating with Saudi Arabia, Yemeni parties, and the UN envoy to resume political talks and de-escalate tensions in the Red Sea after Houthi attacks threaten shipping, aiming to secure regional stability and safe navigation. The foreign ministry stresses avoiding escalation and pursuing a diplomatic track to end the conflict and stabilize the region.

6 sources

Photo: Peter Bond / Wikimedia Commons (CC BY-SA 2.0)

Brent Near $100, Elevates India's CAD, Inflation Risk

Brent crude prices near $97–$100 amid West Asia tensions are fueling volatility in Indian markets and raising concerns that sustained higher oil costs will widen India’s current account deficit and lift inflation, given the country’s heavy crude imports. Analysts warn the oil shock could keep rupee pressures, push up the import bill, and weigh growth unless supply and geopolitical risks ease.

6 sources

Photo: MODIS Land Rapid Response Team, NASA GSFC / Wikimedia Commons (Public domain)

Gulf nations plan new pipelines to bypass Hormuz

Gulf nations, including the UAE, are investing heavily to bypass the Strait of Hormuz by expanding port capacity outside the strait and by building multiple pipeline routes to the Red Sea, Suez Canal, and Gulf of Oman. Projects range from DP World’s Al Rugaylat and Dibba terminals in the UAE to seven or more major pipelines under construction or planned, with timelines spanning a few years and the aim of reducing exposure to Hormuz disruptions and boosting resilience for oil exports.

5 sources