Houthis Seize Key Yemeni Port, Raise Fears of Oil Price Surge
Houthi forces have gained control of Yemen's port city of Mocha and advanced down the Red Sea coast to strategic islands, according to military sources. This move gives them leverage over the Bab el-Mandeb Strait, a critical shipping route that connects the Red Sea to the Gulf of Aden.
The Houthi advance has raised concerns about oil prices, which jumped 4% on Thursday to $105 a barrel due to disruptions in supply routes. The group's control of the strait could give their sponsor Iran a significant advantage in the war with the US, reducing supplies through a second major transit corridor.
Yemeni government military sources said the Houthis have reached the islands of Hanish and are advancing towards the island of Perim, which sits directly on the strait. Control of Dhubab and the island is key to gaining hold of the strait.