Reporting indicates that the explosive-laden drones set off at least two fires in the vicinity of the Suez Canal, a key waterway linking the Red Sea and the Mediterranean Sea. Reached by the East-West pipeline that bisects the country, Saudi oil flows from Yanbu have helped mitigate the anticipated oil pinch caused by the war in Iran. Insurance costs for vessels transiting the Red Sea increased Thursday, following an advisory published by the Joint War Committee, which comprises underwriters from several insurance organizations. Citing Houthi attacks, the advisory designated more of the Red Sea as high risk, a move that will raise costs to Saudi energy products as insurance premiums increase. Riyadh’s actions were small but significant, and struck Iran-backed fighters in Iraq, militias that the kingdom holds responsible for strikes on Saudi oil infrastructure earlier during the week.