Houthi rebels tighten grip on key shipping route & seize two crucial Red Sea islands sparking fears of oil supply crisis

THE Houthi rebels have tightened their grip on a crucial global shipping route by seizing two key Red Sea islands. Fears are mounting the Iranian proxy group’s latest move could spark yet another worldwide oil crisis. Houthi rebels have been capturing key Saudi and Yemeni territories in recent weeks as they seek control in the Red Sea Credit: Reuters A satellite image shows the damage at the Saudi Arabia East-West pipeline on September 13 Credit: Reuters On Monday, the Houthis took the islands of Greater and Lesser Hanish – the latest in a string of key ports and territories seized by the group. Saudi Arabia has been the target of the rebels’ growing control over the Red Sea – a key route which Riyadh has been using to export its energy following the Strait of Hormuz saga. Sign up for The Sun newsletter Thank you! Brent crude prices hit $108-a-barrel today, while average US diesel prices last week soared past $6 a gallon for the first time. The Houthi rebels’ seizure of the two isles near the Bab al-Mandab strait vastly improves their ability to block off the Suez Canal – a chokepoint where 12 per cent of all global trade flows. The Houthis are trying to control the Red Sea Credit: AFP It came after an attack on Saudi Arabia‘s East-West Pipeline – a 1,200km pump that goes across the country – on Thursday. The critical conduit moves crude production from Gulf ports to places like Yanbu on the Red Sea, where it is loaded onto vessels for export. Riyadh was forced to close down the pipeline due to the attack which is believed to have been inflicted by drones. The damage could take one month to fix, authorities said. Most read in The Sun War between the Houthis and Saudi forces has blasted back into action in recent months Credit: EPA The Houthi rebels are backed by Iran Credit: AP Around 2.6 million to 4 million barrels per day have moved through the pipeline since August. If it were completely shut down for the long term, the world would “require a major reallocation of global crude flows”, Rystad Energy, a Norway-based research firm said. Saudi Arabian oil supplies were also rocked by more Iran-led strikes which reportedly left a supertanker on fire as UK pump prices continued to spiral. British petrol and diesel prices – which have already leapt by 5p-per-litre over the past week – are set to carry on climbing as the terror state and its comrades cripple supply routes. Iran’s Navy claimed supertanker Algaya exploded after striking naval mines south of Strait of Hormuz – as US commanders reported the ship had been hit by missiles. Long term knock-on effects for British householders include higher interest rates and mortgages plus consumer goods hikes as Iran declared war on Western economies. The Houthis also took Perim island last week – another critical territory key to controlling the Red Sea. Its capture marked the Houthis’ biggest territorial gain in years and put them in a strong position to threaten vessels in the Bab al-Mandab strait. Markets fear the latest developments could lead to a terrifying triple blockade that would spark an economic meltdown. Oil exported from the Gulf now has to travel through three huge barriers to reach Europe – the US blockade of Iranian ports, the IRGC blockade of Hormuz and the threat from the Houthis in the Gate of Tears. Retired Major General Chip Chapman, former senior British military commander to US Central Command, told The Sun that the chance of this triple blockade will send the price of petrol shooting up. He said: “Not only have you got the Strait of Hormuz, which is a choke point where you’ve got a double blockade, but this also leads to a triple blockade with the Bab al-Mandab. “That’s the significance of both the capture of Perim Island and Mocha. “A barrel of Brent Oil, the real benchmark that people use, is $104 today. It was $100 earlier in the week. That means that you’ll see your prices of your petrol going up.” Comment now