The Houthis have further tightened their grip on the Red Sea. Here’s what it could mean for the world

AFP via Getty Images In recent days, the Houthi rebels in Yemen have moved with lightning speed along the Red Sea coast, taking control of the vital port of Mocha and strategic islands in the Red Sea near the Bab el-Mandeb Strait.

This strait is an important chokepoint along the sea route that connects the Mediterranean Sea with the Indian Ocean.

With the on-and-off closure of the Strait of Hormuz this year, it has offered a critical alternate route for oil, liquefied natural gas, and other goods leaving or transiting the region.

Saudi Arabia, in particular, has diverted up to 64% of its oil exports via an overland east-west pipeline, transporting oil to its Yanbu Port on the Red Sea and shipping it out through Bab el-Mandeb.

Just days ago, this Saudi pipeline was hit by drones, spiking oil prices and causing damage that is estimated will take weeks to repair .

The attacks reportedly came from Iraq , seemingly from an Iranian-backed militant group.

For now, Red Sea shipping appears to be continuing largely unaffected.

This latest escalation suggests Iran and its allies are settling in for a long war.

Here’s what that could mean for the world.

Another blow to oil markets The Houthis’ strategic territorial gains come as a second blow to Saudi oil exports.

Houthi advances are part of an ongoing civil war in Yemen between the Houthis, backed by Iran, and a Saudi-backed government, the Presidential Leadership Council.

From 2015 until a truce in 2022 , Saudi Arabia was actively involved in a combined air and limited ground campaign in Yemen, fighting against the Houthis.

The fragile truce has held until this year.

The Houthis have said their direct targets are Saudi Arabian vessels and Saudi oil.