Diesel hits record $6 a gallon as Houthis take key Red Sea port city
Diesel prices in the U.S. have hit a painful new milestone, $6 a gallon as, reports said, Houthi rebels in Yemen took the key Red Sea port city of Mokha.
Saudi airstrikes targeted the Houthi-controlled Mokha airport in Yemen on Friday, one day after the rebels seized the key port city along the Red Sea. This move brought the Houthi advance closer to the Bab el-Mandeb Strait, a critical shipping route. Iran's government called for an end to Saudi Arabia's blockade of Yemen and urged a return to negotiations between the Saudis and the Houthis following the rebels' entry into the port.
Iran's Foreign Ministry even suggested the rising oil and gas prices could be Tehran's strategy to pressure the United States. The capture of Mokha, which overlooks tanker routes out of the Red Sea, could bolster Iran's efforts to drive up global oil and gas prices. This development, coming more than six months into the conflict, introduces a new front and raises concerns of a power shift between Saudi Arabia and Iran in the region.
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Also reported by 1 other outlet
- Oil prices set to end the week above $100 as Houthis seize key port city thenationalnews.com
