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The Bab al-Mandeb is one of the world's largest and most used supply routes for trade from the Middle East to Europe.
The Strait lies at the southern mouth of the Red Sea and is bordered on the north by Yemen torn by war.
Long-term bitter rivals, Saudi Arabia and Iran were locked into a three-year proxy war in Yemen.
Relations between countries have recently deteriorated, with Saudi Arabia trying to limit Iran's influence in Yemen.
Why did they stop shipping oil?
The Saudi announcement came after Yemeni Houthi insurgents attacked two Saudi oilers on Wednesday at Bab al-Mandeb.
Saudi Arabia, the world's largest oil exporter, accused Iran of supplying the Houthis with weapons including missiles, which Teheran and the Houthis deny.
The Houthis, an anti-Yemeni military rebel group that has degenerated into a civil war with the military, have already threatened to block the strait.
Insurgents said Thursday they have the naval ability to strike at Saudi ports and other targets of the Red Sea.
Iran has also threatened to block another strategic sea route: the Strait of Hormuz.
Saudi Energy Minister Khalid al-Falih said on Wednesday that the Houthis had attacked two Saudi oil tankers in the Red Sea. He said: "Saudi Arabia temporarily suspends all oil shipments in the Bab al-Mandeb Strait until the situation becomes clearer and the maritime transit through Bab al-Mandeb is safe. "
It is not yet known whether the Saudis intend to take additional security measures in the region or impose new import restrictions in Yemen, which is grappling with the most urgent humanitarian crisis in the world.
An oil source said Saudi Arabia had already tightened oil security and all ships in the region were accompanied by security ships.
Currently, Saudi Arabian oil exports by Bab al-Mandeb are estimated between 500,000 and 700,000 The chairman of the Kuwait Oil Tanker Company said the country was planning to do the same.
According to Reuters, industrial and marine sources have indicated that the suspension is not expected to have an impact on Saudi crude oil supplies in Asia, but could increase shipping costs to Saudi vessels to the United States. Europe and the United States due to a longer transit.
The American Influence
Saudi Arabia and the United Arab Emirates support Trump's decision to leave a nuclear deal with Iran.
Iran has criticized the role of the United States in escalating the conflict.
Force Commander Qodem Soleimani, Guardian of the Iranian Revolution, said: "The Red Sea, which was safe, is no longer secure by the American presence … (Donald D. Trump) know that we are a nation of martyrdom and that we are waiting for it. "
The latest attack on Saudi oil could be an attempt to strengthen the position of Iran before the United Nations-sponsored Peace between Yemen and Yemen, Belligerent Parties.
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