Yemen Reclaims Strategic Red Sea Port From Houthis — SkimNews
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- Yemen government forces reclaimed the strategic Red Sea port city of Mokha from Houthis in a "lightning advance," capturing key coastal locations near the Bab el-Mandeb Strait, and separately announced a "strategic offensive" on Sanaa, held by Houthis since 2014
- Houthis reportedly denied Mokha had fallen; CNBC could not independently verify the government's claims
- Mokha, historically the source of the term "mocha" coffee, sits 75 km north of the Bab el-Mandeb Strait and was seized by Houthis in early September, a move then seen as a major blow to Saudi Arabia
- Saudi Arabia, Turkey, and Pakistan agreed to activate "deterrence measures" and rapidly deploy forces after an emergency defense ministers' meeting in Riyadh, citing a "firm commitment to collective defense"
- Two Saudi airports (Jazan and Najran) were attacked Monday evening, injuring three people, per Saudi Arabia's General Authority of Civil Aviation
- Oil prices slipped Tuesday with December Brent falling 0.3% to $100.12/barrel and November WTI dropping 0.9% to $88.63; ING analysts flagged "growing signs of recovery in oil flows from the Persian Gulf" but said market nervousness will last until US-Iran deal progress
Why it matters: The reclaiming of Mokha reverses Houthi gains near the Bab el-Mandeb Strait chokepoint, and the new Saudi-Turkey-Pakistan defense pact commits rapid joint force deployment — ING says oil market anxiety persists until US-Iran deal progress, with Brent hovering near $100.
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