Yemen’s Houthi rebels, backed by Iran, have taken control of a crucial island at the southern entrance of the Red Sea, reported two officials on Friday. This development has opened up a new conflict front in the ongoing tensions involving Iran and poses a threat to Saudi Arabia’s oil exports. Following an attack, Saudi Arabia closed down a major pipeline, as confirmed by the Saudi Ministry of Energy, terming it a precautionary step.
The strategic island captured by the Houthis, located in the Bab el-Mandeb Strait, which is a vital route for global shipping, marks a significant territorial gain for the rebels. This advance could potentially aid Iran in its efforts to influence worldwide oil and gas prices, putting pressure on the United States.
According to the Saudi Foreign Ministry, the pipeline shutdown was in response to an attack by drones purportedly originating from Iraq. Saudi Arabia refrained from immediate retaliation to allow the Iraqi government an opportunity to address the situation. In a related incident, Saudi Arabia and the United States conducted airstrikes on Iranian-backed militias in Iraq in July, following allegations that the Houthis collaborated with these militias in launching drone attacks on Saudi oil facilities.
The East-West pipeline, a crucial component of Saudi Arabia’s oil export infrastructure established in the 1980s, plays a vital role in facilitating oil exports through the Red Sea. The recent developments, including the capture of the island of Mayun by the Houthis, have raised concerns about the security of shipping routes in the region.
Saudi Arabia, a significant oil exporter, has increasingly relied on the Red Sea for oil transportation as an alternative to the Strait of Hormuz. The Houthi activities in the Bab el-Mandeb Strait have complicated this route, impacting Saudi Arabia’s oil export operations.
The escalating tensions have led to increased market volatility, with crude oil prices surpassing $100 per barrel. This situation has granted Iran additional leverage in potential negotiations. The Houthis’ actions, including attacks on Saudi shipping and oil infrastructure, have further exacerbated the crisis in the region.
As the conflict intensifies, there are growing concerns about the impact on Yemen’s civilian population and the fragile truce that had previously mitigated the civil war. The displacement of tens of thousands of people highlights the humanitarian crisis unfolding in Yemen, with organizations working to provide assistance and support to those affected by the conflict.