Iran has asked the Houthis to stand alert to close shipping through the Bab el-Mandeb Strait in the Red Sea.
Iran’s Islamic Revolutionary Guard Corps (IRGC) has already hinted at such a move.
The Bab el-Mandeb has become a crucial relief valve for the global oil market. Its closure could disrupt more than 5% of global oil supplies, dealing a major blow to global energy markets.
It could particularly disrupt Saudi Arabia‘s exports to Asian countries, including South Korea and Japan. The closure will certainly escalate the Middle East conflict.
Saudi Arabia has already redirected millions of barrels of crude from the Persian Gulf to the Red Sea.
The Bab el-Mandeb connects the Red Sea with the Gulf of Aden and the Arabian Sea. Oil shipments through the strait reportedly rose to more than seven million barrels per day in April, up from around four million bpd in February before the recent escalation between the United States and Iran.
Analysts believe the Houthis are prepared to act. While the Strait of Hormuz handles more than 25% of global seaborne oil trade, disruption at Bab el-Mandeb could still affect 5% to 10% of global oil shipments.
Oil prices have already risen as Washington and Tehran stepped up military attacks. Brent crude gained 70 cents to $84.93 a barrel on Friday. The International Energy Agency has warned that global oil security remains a critical concern.
Meanwhile, the United States carried out airstrikes in southern Iran for a sixth consecutive night after both Washington and Tehran accused each other of violating the ceasefire agreement.
Tehran claimed it had targeted US military bases across the Gulf region, including in Oman, Syria, Kuwait, Bahrain and Qatar. Doha said it intercepted Iranian missiles, while shrapnel injured one child. Iranian authorities said fresh US strikes killed seven people.
Al Jazeera reported that Iran accused the United States of striking civilian targets in southern Iran, including a railway station and a power station.
Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed it destroyed a US air-control radar in Oman. It also claimed to have hit a maritime surveillance radar near the Strait of Hormuz. According to the IRGC, the radar monitored waters between Iran and Oman. “The critical waterway in Hormuz remains under our control,” the IRGC said.
