BREAKING: China has directly negotiated with Yemen's Houthis to enable Chinese tankers exclusive prefe...

BREAKING: China has directly negotiated with Yemen's Houthis to enable Chinese tankers exclusive preferences for safe passage through the Bab el-Mandeb after the Houthi maritime blockade against Saudi Arabia, with Chinese officials clearing each vessel individually with the Houthis and both sides informing Iran of their actions, per Reuters citing 6 sources including a senior Iranian official. At least 4 tankers have already loaded Saudi crude bound for China and transited the Bab el-Mandeb since the Houthi restrictions were announced. China is seeking to plug the supply gap caused by Iran's effective Hormuz closure by keeping oil exports flowing from Saudi Arabia's Red Sea terminals, principally Yanbu.