Yemen’s Houthi group explores levying charges on vessels transiting the Bab el-Mandeb strait, escalating regional trade tensions.
Yemen’s Houthi rebels are evaluating fees for commercial ships passing through the southern Red Sea’s Bab el-Mandeb strait. The move follows their recent naval blockade declaration targeting Saudi Arabia, though no timeline for implementation has been set.
The proposed fees aim to normalize tolls on international waterways and increase pressure on the U.S. The Bab el-Mandeb, a critical chokepoint linking the Red Sea to the Gulf of Aden, handles roughly 10% of global seaborne oil trade.
Oil markets reacted swiftly, with West Texas Intermediate crude rising 6.33% to $83.32 amid concerns over potential supply disruptions in the region.