Houthis Threaten Red Sea Oil Chokepoint Amid Escalating Yemen Conflict

The conflict in Yemen has escalated, putting pressure on the Bab al-Mandeb Strait and threatening to disrupt global oil trade. The Houthis, backed by Iran, have targeted Saudi ports and shipping vessels after a US-Israeli attack on Iran pulled Saudi Arabia deeper into the expanding war.

According to Hamish Kinnear, principal analyst for Maplecroft, 'the Houthis are open to negotiations with the Saudis and the Saudi-backed Yemeni government'. The group has said it will escalate its actions based on the situation in the coming hours and days.

The Bab al-Mandeb Strait carries about 12 percent of global seaborne oil trade and 8 percent of global liquefied natural gas trade. A sustained disruption would place a second major oil chokepoint under pressure after the closure of the Strait of Hormuz.