Houthis Gain Control of Key Oil Export Route

The Houthis have made significant gains in Yemen, capturing key ports and islands near the Bab el-Mandeb Strait. This strategic location is crucial for global oil supplies, with up to 5% of crude oil and petroleum product volumes passing through it. The Strait of Hormuz, also a major oil export route, has been blocked by Iran, leading Saudi Arabia to increase its pipeline capacity from eastern to western regions.

The Houthis' advance on the Bab el-Mandeb Strait has raised concerns about the impact on global energy supplies. If the Houthis were to block traffic through this strait, it could significantly strengthen their leverage over oil exports and put additional pressure on global prices.

Serhiy Danylov, deputy director of the Center for Middle Eastern Studies, described the situation in Yemen as an 'epic fail' for Saudi Arabia and the US. He noted that the control of the Bab el-Mandeb Strait would allow the Houthis to establish a significant presence in the region.