Red Sea Crisis Redux: Bab Al-Mandeb Could Be Next Chokepoint | WION

[00:00:00]The Red Sea is flashing red, quite literally. After Hormuz, the next pressure point is the Bab el-Mandeb, the narrow gateway that can jam global trade in a heartbeat. And now the Houthis are threatening shipping here, and Saudi Arabia is warning of using force.

[00:00:17]The world's supply lines are now back in the firing line, and our next report explains what it means for global energy markets and how this could impact your pocket in the days to come. Take a look.

[00:00:48]>> It begins with a warning shot. Then, the market panic follows.

[00:00:53]One choke point is already strained.

[00:00:55]Now, another could be dragged into the storm.

[00:01:00]Bab el-Mandeb, the narrow strait between Yemen and the Horn of Africa, is no side note. It is a gate through which oil, cargo, and war risk all pass at speed.

[00:01:14]The threat is simple and brutal. If the Houthis move to choke this route, the consequences could spread far beyond the Red Sea.

[00:01:22]Ships would be forced to divert. Transit times would jump. Insurance costs would soar. Oil prices could spike massively.

[00:01:32]After squeezing Hormuz, Iran's Houthi allies have turned to the Red Sea gateway as a new pressure point.

[00:01:38]As seen in this map, Houthi forces have declared a strict maritime embargo against Saudi Arabia at the Bab el-Mandeb Strait that handles roughly 4 to 7.4 million barrels of oil and petroleum products per day.

[00:01:54]This amount equals about 5 to 7% of total global oil trade.

[00:02:05]These are the images of Houthi supporters rally in Sana'a after armed forces announced the navigation ban on Saudi Arabia.

[00:02:16]>> Yemen is moving forward with a continued comprehensive escalation, first through the naval and air blockade across all parts of the Kingdom of Saudi Arabia.

[00:02:25]Major foreign companies including American, British, and other companies investing billions of dollars will be targeted.

[00:02:35]>> Saudi Arabia and the Houthis traded fire last week for the first time [music] in years threatening a 2022 truce that has held despite [music] expiring.

[00:02:45]The exchange of strikes was set off when an Iranian plane attempted to land in Sana'a challenging Saudi Arabia's hegemony over Yemeni skies.

[00:02:55]Houthis also warned of inflicting harm of Saudi oil facilities.

[00:03:00]The Kingdom produces over 10 million barrels of crude per day for energy imports.

[00:03:09]>> We say to the Saudi aggression that if you fire at any aircraft that comes to Yemen or if you fire at Yemen then we will target your petroleum facilities and we will target your airports and we will target your families.

[00:03:24]>> [music] >> Analysts say the danger is not just another clash at sea. It is the prospect of two critical maritime arteries being hit at once.

[00:03:34]With Hormuz already disrupted [music] and Bab al-Mandab now under pressure.

[00:03:39]For shippers the nightmare is clear.

[00:03:42]One blocked route can be absorbed. Two choke points at the same time could remake trade flows.

[00:03:49]Drag freight [music] rates higher and deepen the shock across energy markets.

[00:03:54]Babal Mandeb is not just geography. It is a pressure valve and right now it is hissing.

[00:04:02]Bureau Report, Vyon, World is One.

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