Houthis seize Yemen’s Red Sea coast, threatening Bab el-Mandeb oil flows

Houthi forces have taken control of Yemen’s entire Red Sea coast, effectively giving them control of the Bab el-Mandeb Strait. Crude oil flows through the strait reached over 9 million barrels per day at their peak prior to the Iran War, equal to about 9% of global demand now at risk of disruption. Brent crude oil prices extended gains toward 110 dollars per barrel.