A US blockade is squeezing Iran’s oil exports as Tehran’s hold on Hormuz weakens; Meanwhile, Houthi gains at Bab el-Mandeb are shifting the pressure to Saudi Arabia, threatening its oil routes and leaving the kingdom with few options and little outside help

Iran may be losing its grip on Hormuz, but its Houthi allies are threatening to give Tehran another lever over global energy and shipping through Bab al-Mandab.

Houthi forces have seized Perim Island, threatening the vital Bab el-Mandeb Strait shipping lane. This development occurs as the Strait of Hormuz faces severe disruptions,…