From New York Post · · 1m 20s
Houthis seize key oil route as US allies fracture
Iran-backed rebels exploit Gulf infighting to control critical shipping strait, threatening global oil supply and sending prices soaring.
In brief
Iran-backed rebels exploit Gulf infighting to control critical shipping strait, threatening global oil supply and sending prices soaring. Houthi rebels have seized control of the Bab al-Mandeb Strait and attacked Saudi oil infrastructure, exploiting a breakdown in the anti-Houthi alliance between Saudi Arabia and the…
Houthis now control critical oil route
Iran-backed rebels seized the Bab al-Mandeb Strait and attacked Saudi Arabia's East-West pipeline. Oil prices jumped to $108 per barrel.
UAE-Saudi split opened the door
Saudi Arabia bombed weapons meant for UAE-backed forces in December. Abu Dhabi withdrew entirely, fracturing the anti-Houthi alliance.
Strategic island fell in weekend assault
UAE-backed forces controlled Perim Island in the middle of the strait. The Houthis took it in a lightning attack, threatening all Saudi vessels.
Saudi Arabia left with one export route
Iran already shut the Strait of Hormuz. Now Saudi Arabia can only use the Suez Canal, adding weeks to tanker journeys.
Trump refused military strikes
Crown Prince Mohammed bin Salman asked President Trump for military aid. Trump reportedly agreed to everything except firing new attacks.
Saudi exports face severe disruption
Red Sea port exports dropped by half last month to 2.5 million barrels daily. The kingdom has only five to seven days of exports at Yanbu port.
The takeaway
Houthi rebels have seized control of the Bab al-Mandeb Strait and attacked Saudi oil infrastructure, exploiting a breakdown in the anti-Houthi alliance between Saudi Arabia and the UAE.
