Yemen's Houthis seize key oil route: global economy at risk

The Houthi rebels in Yemen have made a rapid advance along the Red Sea coast, shocking observers. In just days, the Iran-backed group captured thousands of kilometres of territory and seized strategically important islands. They now control the Bab al-Mandab strait, a vital chokepoint for global energy shipments. More than 100,000 people have been forced to flee. In a country where half the population depends on humanitarian aid, civilians are paying the highest price. The timing is critical. The Iran war has forced Saudi Arabia to move oil through its east-west pipeline to Red Sea ports. But drone strikes, blamed on an Iran-backed militia in Iraq, have shut that pipeline down. One estimate suggests a month-long closure could cut global crude supply by 120 million barrels. Shipping through the Bab al-Mandab strait could be blocked for much longer. Sending oil north is slower and more expensive for Asian markets. It also does not protect ships from Houthi attacks, as the rebels are also targeting oil facilities. The Bab al-Mandab is the second major energy chokepoint in the region after the Hormuz strait. With both routes now under threat, the economic consequences could be severe.