Iran-backed Houthis seize control of Bab al-Mandab strait; Saudi Arabia shuts key oil pipeline after drone attacks

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Iran-backed Houthis seize control of Bab al-Mandab strait; Saudi Arabia shuts key oil pipeline after drone attacks

⚡ Markets: Creates a severe, simultaneous threat to the two most critical Middle East oil transit chokepoints (Hormuz and Bab al-Mandab), threatening roughly a third of global seaborne oil. Bullish oil, tanker rates, and defense contractors.BrentWTITanker StocksDefense Stocks

Houthi forces in Yemen captured Perim Island, giving them effective control of the strategic Bab al-Mandab shipping lane. Separately, drone attacks damaged and forced the shutdown of Saudi Arabia's East-West pipeline, a crucial bypass for the Strait of Hormuz.

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95 sources across the spectrum

Financial pressOilPrice — Saudi Arabia’s Critical Oil Bypass Comes Under Threat

West MSMBBC World — How global trade and oil prices could be hit by Houthi advance

Financial pressOilPrice — Supertanker Rates Hit $800,000 a Day as Gulf Tensions Escalate

West RightZeroHedge — Mideast Chaos Sends Supertanker Rates Soaring To Near Record $1 Million A Day

RegionalKompas — Lalu Lintas Kapal di Selat Hormuz Anjlok, Pasokan Minyak Dunia Terancam

West MSMReuters — Oil tanker rates hit record highs following Iran, US shipping attacks

Financial pressOilPrice — WTI Breaks $100 as Middle East Supply Crisis Deepens

West LeftTruthout — Oil Prices Soar to New Heights as Houthis Seize Yemen’s Red Sea Coastline

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