The Houthis of Yemen have captured two strategic islands in the Red Sea, namely the large and small Hanish Islands, thereby enhancing their power over a key shipping route. This action comes amid rising concerns about the occurrence of a new crisis in global oil supply.
Capture of Islands and Recent Developments
The capture of the Hanish Islands marks the latest phase of the rapid advance of the Houthi group along the coasts of the Red Sea in Yemen. After seizing the port of Al-Mokha and the island of Perim in the Bab el-Mandeb Strait, the group has now gained control of the Hanish Islands. The Hanish Islands are located 160 kilometers north of the Bab el-Mandeb Strait, a strait that connects the Red Sea to the open ocean and key Asian markets in Saudi Arabia.
Read more: Greg Stanton: The situation in Iran is severely deteriorating
Humanitarian and Economic Consequences
The speed of the Houthis' advance has prompted the Yemeni government, backed by Saudi Arabia, to attempt to regain lost territories. Meanwhile, daily attacks on Saudi oil facilities and security warnings have put significant pressure on the country. According to reports, nearly 94,000 residents of Yemen have left their homes due to the escalation of the war in the region. About 200 schools in Yemen have been turned into shelters for displaced families.
Additionally, more than 2,000 people have fled to Djibouti. With the Houthis' advance, the group is now only 32 kilometers away from a U.S. military base in the country in the Horn of Africa.
In this context, experts have warned that the closure of Saudi Arabia's East-West pipeline, which is vital for transporting oil from the Strait of Hormuz to the export port of Yanbu, will put further pressure on global oil supply. This pipeline used to transport an average of 2.6 to 4 million barrels of oil per day, and now this amount is at risk of disappearing from the market.
Brent oil prices reached $106.92 per barrel on Tuesday, and diesel prices in the United States hit $6 per gallon last week. These developments reflect the widespread impacts that this crisis could have on global markets and the economies of various countries.
Read more: Saudi Arabia Faces Limited Options Against Ansar Allah · Egypt Seeks Mediation Between Saudi Arabia and Yemen's Ansar Allah
