Bab el-Mandeb Strait at Risk as Houthis Seize Mocha; WTI Tops $100 a Barrel

WTI Tops $100 a Barrel

Oil prices surged after Iran-backed Houthi rebels in Yemen seized the Red Sea port city of Mocha, raising fears of disruptions to shipping through the Bab el-Mandeb Strait, a vital maritime route.

Reuters reported on September 10, citing four Yemeni government sources, that the Houthis had taken control of Mocha and were close to securing control of the Bab el-Mandeb Strait. After capturing Mocha, the rebels began attacking the Hanish Islands, a strategic position in the Red Sea, one source said.

AFP, citing Yemeni military sources, also reported that the Houthis were advancing toward the Bab el-Mandeb Strait after taking Mocha. The group also seized Zuqar Island in the southern Red Sea through rocket attacks and assaults by boats carrying fighters, according to the report. Yemeni government troops backed by Saudi Arabia and allied forces are redeploying to the Dhubab area near the strait.

Mocha is a port city about 70 to 80 kilometers north of the Bab el-Mandeb Strait. Farther south along the coast lies Dhubab, which sits on the strait. Across from it is Mayyun Island, also known as Perim Island, which splits the waterway into two channels. Dhubab and Mayyun are key positions for controlling the strait because they allow forces to monitor ship traffic and deploy troops and weapons.

Amid concern over disruptions to sea transport, West Texas Intermediate crude for October delivery rose above $100 a barrel during trading.

Han Myung-hyun, Hankyung.com reporter, wise@hankyung.com