Houthi forces have seized Yemen’s Red Sea port of Mokha, spiking already elevated brent crude oil price to $107 per barrel. The Houthis captured several strategic cities along the coast, creating further potential disruption amid Saudi-led coalition force’s attack targeting the Yemen’s militant group.
Tensions are escalating rapidly in the West Asia especially in Yemen and Saudi Arabia, after Saudi launched offensive against Houthis. The Houthis also retaliated targeting several cities across Saudi, wounding nearly 100 people.
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On Friday, an attack strike on Saudi Arabia’s East-West oil pipeline, in addition to targeting vessels near Oman’s Khasab, creating potential economic and trade fallout. Meanwhile, Israel says it has destroyed major Hezbollah tunnel infrastructure in southern Lebanon.
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