Iran-backed Houthis seize strategic Mayun Island: Can they hold it?

The flow of ship traffic through the Bab Al Mandeb strait has been cut in half as the Houthi rebels have claimed control over Yemen's entire Red Sea coast and the strategically vital Perim Island. The number of daily crossings in the strait fell to just 15 on Friday, down from 30 the previous day, according to preliminary data from Kpler.

Out of Friday's total, six vessels exited the Red Sea while nine entered. The cargo carried included crude oil, grains, steel, and ballast ships. The Houthi takeover of important areas overlooking the Red Sea and the strait, including the port city of Mokha, has given them the ability to monitor ship movements. Perim Island, known as Mayyun, which was seized by the rebels, is strategically crucial as controlling the island provides an advantage in tracking vessels entering and leaving the Red Sea and those heading towards the Suez Canal.

The Houthi group has imposed a "maritime embargo" on vessels linked to the Saudi kingdom passing through Bab Al Mandeb, a move that has forced the kingdom to reroute its crude exports through the Suez Canal. The Strait of Hormuz, another key route for global crude shipments, remains largely inaccessible due to the ongoing conflict between the US and Iran.

As a result, oil prices surged to nearly $110 per barrel, with Brent and West Texas Intermediate trading at $104.6 and $100 per barrel respectively. Ship traffic in the Strait of Hormuz also increased on Friday, with 14 crossings compared to seven the previous day.