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92GEOPOLITICS

Iran-backed Houthi forces seize strategic port of Mokha in Yemen, threatening Bab el-Mandeb Strait

⚡ Markets: Adds a significant new chokepoint risk for oil and LNG tankers, compounding the Hormuz situation. Bullish for oil prices, shipping insurance rates, and defense contractors.BrentLNGShipping Stocks

Houthi forces captured the key Red Sea port of Mokha from Saudi-backed government forces, reportedly with support from Iran's Revolutionary Guards. The advance brings the group closer to controlling the Bab el-Mandeb Strait, a critical chokepoint for global oil and trade, potentially creating a second blockade point alongside the Strait of Hormuz.

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