Fighters loyal to the Houthi authorities shout slogans during a demonstration to recruit more fighters in Sanaa on September 10, 2026.Mohammed Huwais | AFP | Getty Images The Iran-backed Houthis reportedly advanced toward Yemen’s strategic Perim Island on Friday, giving a major boost to the militant group’s push to take control of one of the world’s most important shipping chokepoints. The capture of Perim Island, which was reported by several news agencies, citing multiple Yemeni government sources, comes just a day after the Houthis seized the Yemeni port city of Mokha on the Red Sea coast. CNBC could not independently confirm the report. The rapid ground offensive is seen as a serious setback for Saudi Arabia and is backed by Yemeni forces, putting Iran and its proxies on track to exert control over two critically important oil chokepoints on either side of the Arabian Peninsula: the Bab el-Mandeb Strait and the Strait of Hormuz. Perim Island is a small, rocky area of land divided by the Bab el-Mandeb Strait, a waterway that connects the Red Sea to the Gulf of Aden and markets. There are concerns that the Houthis’ advance into the Bab el-Mandeb Strait could have significant ramifications for global trade, particularly if the militant group escalates its threats or attacks on Red Sea shipping. The Houthi advance prompted Saudi Crown Prince Mohammed bin Salman to personally pressure President Donald Trump for a U.S. military intervention, MS NOW reported later Friday, according to a person familiar with the talks. The crown prince spoke to Trump twice on Thursday and urged him to attack the Iran-backed group as it approached the Bab el-Mandeb. Trump declined, saying the United States does not plan to expand its regional military campaign to include the Houthis, according to the person, who was granted anonymity due to the sensitive nature of the talks. Axios was the first to report the calls. A senior administration official told CNBC that the United States remains focused on protecting critical national security interests, including freedom of navigation in the Red Sea, “while empowering our regional partners to take the lead in managing and resolving regional security challenges.” The official added that the United States is “in continued dialogue with Saudi Arabia.” Mokha’s capture marked a “major blow” for Saudi Arabia as it raises the possibility of the group exerting tighter control over the Bab el-Mandeb Strait, according to Hamish Kinnear, senior Middle East and North Africa analyst at risk intelligence company Verisk Maplecroft. Yemeni coast guards loyal to the internationally recognized government ride a patrol boat in the Red Sea off the government-controlled town of Mokha in the western province of Taiz, near the strategic Bab al-Mandab Strait, on April 15, 2024. Khaled Ziad | AFP | Getty ImagesMokha is located about 75 kilometers (46 miles) north of the Bab el-Mandeb Strait. “The Houthis were already threatening Saudi shipping from previous positions, but their capture of Mocha opens the possibility of further advances towards the Bab el-Mandeb coast and tighter control of the chokepoint,” Kinnear said in a research note. As the war continues, Kinnear said both Tehran and Washington believe time is on their side, making a new truce unlikely for now. “Oil and gas prices, and more specifically refined products like diesel, will continue to rise as long as that remains the case, even if US convoys and Strait of Hormuz export alternatives cushion the price impact,” Kinnear said. The strategic importance of the Bab el-Mandeb Strait has increased significantly since the start of the US-Israeli war against Iran in late February, and the waterway is emerging as an alternative route for crude oil moving towards Asia. What’s next for oil prices? Oil prices traded sharply lower on Friday, but the two major benchmarks could still end the week above $100 a barrel for the first time since mid-May. International benchmark Brent crude futures expiring in November traded 3.3% lower at $104.21 a barrel, while U.S. West Texas Intermediate futures expiring in October last fell 3.4% to $99.08. The resilience of the oil market is being tested by a clearer recognition of the growing threat to regional supply, ING strategists said, with energy market participants seen reviewing both the duration and severity of the conflict. Read more CNBC Politics and Policy Coverage Even as flows continue through the Strait of Hormuz, ING strategists said flows remain well below pre-war levels, underscoring how fragile the situation has become. “Saudi energy infrastructure and Red Sea crude oil exports are increasingly at risk, with the Houthis in Yemen targeting Saudi Arabia,” ING’s Warren Patterson and Ewa Manthey said in a research note published Friday. “As the Houthis have taken control of the Red Sea port of Mokha in Yemen, recent developments increase the threat to shipping around the Bab al-Mandeb Strait,” they added. Luke Fountain contributed to this report.
