How Escalating Attacks in Yemen Impact Global Oil Trade

An escalating wave of attacks around the Red Sea has pushed oil prices above $100 a barrel, as Houthi territorial gains near the Bab el-Mandeb Strait and strikes on Saudi energy infrastructure threaten a route that has become a critical alternative to the Strait of Hormuz.

On Sunday, Yemeni government forces, which are backed by Saudi Arabia, launched attacks against the Iran-backed Houthis along the Red Sea. The strikes were part of an effort to dislodge the Houthis after the rebel group captured the port city of Mokha and Perim Island at the mouth of the Red Sea, key positions that give the group a vantage point to threaten shipping through the Bab el-Mandeb Strait.

The Houthis also launched missiles at several areas in Saudi Arabia, and in recent weeks attacked the kingdom's oil infrastructure and shipping. The group declared a blockade on Saudi vessels in July, but said other countries' commercial shipping can continue through the narrow Bab el-Mandeb.

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