A Houthi offensive in Yemen has put a second vital energy corridor in the region under the sway of Iran and its allies, raising concerns over global oil supplies.

The escalation follows attacks on shipping in the Red Sea and Gulf of Aden, disrupting transit routes used by tankers carrying crude to markets in Asia and Europe. Analysts warn that sustained instability could tighten already strained inventories.

Saudi Arabia and the United Arab Emirates have responded with airstrikes targeting Houthi positions, while Iran continues to provide what officials describe as material support to the group. The Bab el-Mandeb Strait, a key chokepoint for about 12% of global seaborne oil trade, now sits alongside the Strait of Hormuz as a flashpoint.

Energy markets have reacted sharply, with Brent crude rising above $95 a barrel. Traders are closely watching moves by ExxonMobil and Chevron to reroute cargoes and increase security measures on vessels bound for the Persian Gulf.

The situation underscores growing regional fragmentation and signals prolonged uncertainty for energy-dependent economies worldwide.