CNN Central News & Network-ITDC India Epress/ITDC News Bhopal: Amid the continuing conflict in West Asia, a crisis now appears to be deepening around the Bab al-Mandeb Strait. Iran-backed Houthi rebels have strengthened their hold along Yemen’s Red Sea coast and gained access to the strategic Mayun (Perim) Island. The island lies in the middle of Bab al-Mandeb and is considered extremely important for global maritime trade.
The Bab al-Mandeb Strait connects the Red Sea with the Gulf of Aden and is among the main routes for the movement of oil and other goods between Europe and Asia. After the crisis in the Strait of Hormuz, this route has become an important alternative corridor for Saudi Arabia’s oil exports. In such a situation, rising instability here could put additional pressure on global energy supplies.
According to Reuters, the Houthis’ access to the Bab al-Mandeb area could give Iran a strategic advantage over a second important maritime corridor. However, the Houthi side has claimed there is no threat to international shipping and has said that the movement of vessels other than Saudi ships will remain safe.
The development is affecting crude oil prices and global shipping costs. Oil prices have risen above $100 per barrel, and if ships are forced to take a longer alternative route, it could add time and cost to transporting oil to Asia.
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