Brent crude tops $107 after Houthis' seizure of Mokha, near Bab Al Mandab Strait

Brent crude oil prices surged past the $107 mark on Friday, September 11, 2026, as markets reacted to the Houthis' seizure of Yemen's Red Sea port of Mokha, located near the Bab Al Mandab Strait. The Brent Crude increased by $6.42, or 6.34%, reaching $107.6/barrel, while the US benchmark WTI climbed 1.27% to $103.8/barrel. The Houthis' control of Mokha and nearby Mayun Island has raised concerns about shipping through the critical route that handles approximately 12% of global oil supplies.

This development is particularly concerning, as the Strait of Hormuz remains effectively closed due to ongoing US-Iran attacks on tankers. Saudi Arabia, which heavily relies on Bab Al Mandeb for its Asian oil exports, has reportedly rerouted shipments through the Mediterranean following previous Houthi attacks. The situation has raised fears among analysts about the potential impact on oil supplies and prices, with Brent crude nearing $100 despite the US-Iran conflict and disruptions in the Hormuz region keeping geopolitical premiums high.