Iran-backed Houthi forces in Yemen are raising fresh concerns for global oil markets after seizing strategic positions along the Red Sea coast, including the port of Mocha and Perim Island near the Bab al-Mandeb Strait.
The Houthi advance comes alongside attacks on Saudi energy infrastructure, increasing concerns over another major route for international oil shipments. The developments are unfolding as traffic through the Strait of Hormuz remains severely disrupted.
The Bab al-Mandeb is a key maritime gateway connecting the Red Sea with the Gulf of Aden, making it vital for energy supplies and global trade. Any prolonged disruption could force ships to take longer and more expensive routes.
Brent crude is already trading above 100 dollars a barrel as markets react to the wider regional conflict and growing risks to energy shipments.
Further attacks or restrictions around the Red Sea could push oil prices even higher, increasing transportation and production costs and adding to inflation pressures around the world.
With both the Red Sea and Strait of Hormuz facing serious disruption, fears are growing that continued regional escalation could create a wider energy crisis and put additional pressure on the global economy.
