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Canadian Natural Resources Ltd
Symbol CNQ
Shares Issued 2,062,393,699
Close 2026-09-11 C$ 69.32
Market Cap C$ 142,965,131,215
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Globe/AP say Suncor see Houthis seize Red Sea island

2026-09-14 06:24 ET - In the News

See In the News (C-SU) Suncor Energy Inc

The Globe and Mail reports in its Saturday, Sept. 12, edition that Yemen's Iranian-backed Houthi rebels captured a strategic island at the southern entrance to the Red Sea, threatening Saudi oil exports after a major pipeline shutdown due to an attack. An Associated Press dispatch to The Globe reports that this significant territorial gain along the Bab el-Mandeb Strait could strengthen Iran's strategy to raise global oil prices to pressure the United States. Saudi Arabia shut down the pipeline after an attack, describing the move as "a precautionary measure." The Saudi Foreign Ministry attributed the attack to drones from Iraq and chose not to retaliate. The Iraqi government condemned the attack. Built in the 1980s, the East-West pipeline has been crucial for Saudi Arabia's oil exports, especially during the disruptions in the Strait of Hormuz. By early June, exports from the pipeline's Red Sea port exceeded five million barrels a day. The Houthis' capture of Mayun was confirmed by a senior military official with Yemen's internationally recognized government and by a Houthi official. Saudi Arabia has increasingly relied on the Red Sea to get its crude to market as an alternative to the Strait of Hormuz.

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