Houthis Gain Control of Strategic Shipping Route, Oil Prices Soar
Houthi fighters have taken control of Yemen's port city of Mocha and advanced down the Red Sea coast, gaining leverage over the Bab el-Mandeb Strait.
The strait is a critical shipping route for oil exports from Saudi Arabia, which relies on it since the Iran conflict closed the Strait of Hormuz.
Brent crude prices jumped 4% to $105 a barrel as concerns grow over disruption to supply routes.