Iran-Backed Houthis Seize Strategic Yemeni Port, Sparking Saudi Oil Cuts and Raising Red Sea Shipping Concerns

Iran-backed Houthi rebels have captured the strategic Red Sea port city of Mokha in Yemen, advancing towards the vital Bab al-Mandeb Strait and significantly escalating regional tensions. This development has prompted Saudi Arabia to cut its oil production to the lowest level this year due to Houthi threats and a "maritime embargo" against Saudi ports, contributing to global oil prices rising above $100. Reports also indicate Iran's Islamic Revolutionary Guard Corps (IRGC) has joined the fight on the ground in Yemen. The takeover of Mokha and the broader conflict raise serious concerns about the security of international shipping routes and the potential for a return to civil war in Yemen.