Houthis capture Mokha in Yemen, raising concerns over Red Sea shipping
The Iran-backed Houthi group captured control of Mokha, a strategic port city on Yemen's Red Sea coast. The move brings Tehran closer to securing influence near the Bab el-Mandeb Strait—a critical global trade route connecting the Red Sea and Gulf of Aden. Analysts warn that this development could heighten risks for shipping in the region and increase Iranian pressure around key oil chokepoints, including the Strait of Hormuz. The capture is seen as a major setback to Saudi Arabia and its Yemeni allies. Hamish Kinnear from Verisk Maplecroft noted it opens up potential further advances by the Houthis toward the Bab el-Mandeb coastline, tightening control over this vital waterway. With tensions in the region persisting, oil prices remain above $100 per barrel as markets assess ongoing supply risks. Energy strategists at ING highlighted that flows through the Strait of Hormuz are still below pre-war levels and fragile due to continued conflict. Despite some declines on Friday morning, both Brent crude and West Texas Intermediate futures remained near or above $100 per barrel for the first time since mid-May.
Topics: Houthis Middle East conflict oil prices Red Sea shipping routes