Houthi Takeover in Yemen Sends Global Oil Prices Soaring

The tenuous years-long truce in Yemen has unraveled further as Iran-backed Houthi fighters pushed out Saudi-backed Yemeni forces along a key stretch of Red Sea coastline.

The Houthis have consolidated their control of the vital shipping route by taking control of the port city of Mokha, just north of the Bab el-Mandeb strait, and capturing the barren island of Mayun, also known as Perim.

Senior Houthi leader Mohammed Bukthi told NPR that the attacks on Saudi-aligned forces and ships are in response to the kingdom's years-long blockade of Houthi-held areas, which he said had led to deaths from hunger.

The fighting has coincided with another exchange of fire in the Persian Gulf between the United States and Iran, causing oil prices to climb. The price of Brent crude shot up Thursday over $108 a barrel briefly, before settling Friday around $105.