Houthis Advance Down Red Sea Coast, Threaten Global Oil Supplies

The Iran-aligned Houthis have made significant gains along the Yemeni coast, seizing control of the port city of Mocha and advancing down the Red Sea coast to strategic islands. This development raises concerns about freedom of navigation through the Bab el-Mandeb Strait, a critical shipping route for global oil supplies.

According to Yemeni government military sources, the Houthis have gained further leverage over the strait and reached the islands of Hanish. If they were to gain control of the waterway, it could give their backer Iran a significant advantage in its war with the United States.

The Houthis' advance has been accompanied by increased tensions in the region. Saudi civil defence authorities have issued emergency alerts in the southwestern city of Khamis Mushait due to Houthi attacks. The U.S. Treasury Department has also announced new sanctions against firms and individuals aiding Hezbollah and other Iranian proxies.

Oil prices have jumped as a result of the conflict, with Brent crude prices rising by 4% above $105 a barrel on Thursday. The U.S. national average price of diesel surpassed $6 a gallon for the first time ever.