Houthi forces completed their seizure of Yemen’s Red Sea coastline, Mokha port, Dhubab, Perim (Mayyun) Island, and the Hanish Islands in mid-September 2026, placing both shores and key islands of the Bab el-Mandeb Strait under their control amid the broader regional conflict. This territorial advance has sharply reduced commercial traffic—down roughly 50-60 percent from prior levels—with many operators rerouting vessels around the Cape of Good Hope due to elevated attack risks, though no government or maritime authority has formally declared the strait closed. Limited transits continue, particularly for non-Saudi-linked vessels, as Houthis have publicly signaled safe passage for most shipping while enforcing restrictions on Saudi-related traffic. The resulting supply-chain pressures and oil-price movements reflect trader assessments of whether ongoing Houthi leverage constitutes an effective closure versus sustained partial disruption.