Houthi forces seized Yemen’s entire Red Sea coastline, Mokha port, the Hanish Islands, and Perim Island in the Bab el-Mandeb Strait during a rapid offensive in early September 2026, placing them in direct position to threaten or restrict the narrow chokepoint linking the Red Sea and Gulf of Aden. This advance occurred amid the broader 2026 Iran conflict, with the group declaring a selective maritime blockade targeting Saudi-linked vessels and conducting missile and drone strikes on Saudi energy infrastructure and shipping. Traffic volumes have fallen sharply, with many vessels rerouting around the Cape of Good Hope or transiting dark, though some non-Saudi and Chinese-linked ships continue passage under reported case-by-case arrangements. Oil prices have risen above $100 per barrel in response, reflecting trader assessment of sustained leverage over roughly 12 percent of global trade flows. The situation remains volatile, with potential for further escalation, international naval responses, or negotiated de-escalation tied to developments in the Iran conflict.