The attack hit an American tanker and a second ship, causing a fire but no casualties.
The Egyptian government confirmed the attack was a drone strike and is investigating, though it is widely believed to be Iranian-backed.
Political analyst Maged Mandour, author of Egypt under El-Sisi: A Nation on the Edge, called the attack a "significant escalation."
However, he noted uncertainty about whether it signals a broader new Iranian strategy or a warning to American allies in the region.
President Abdel Fattah al-Sisi has sought to avoid direct involvement in the regional war, relying on diplomacy to prevent further attacks, Mandour said.
He noted that Egypt's economy is fragile, weakened by the conflict's fallout, with the Egyptian pound losing value since the war began in late February.
Mandour explained that Egypt's status as a net energy importer makes ongoing attacks on energy infrastructure a serious threat.
This adds fiscal pressures due to debt repayments and budget deficits.
He also noted that the attack could expose Sisi to domestic criticism, undermining his image as protector of national security despite heavy military spending.
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However, Mandour stressed that Egyptians fear the attack's consequences and that it may strengthen national and military support among the population.
