Brent crude tops $107 after Houthis' seizure of Mokha, near Bab Al Mandab Strait

Brent crude topped $107.6/barrel as of 8.16am Tokyo on Friday (September 11, 2026) as markets reacted to the Houthis’ seizure of Yemen’s Red Sea port of Mokha, near the Bab Al Mandab Strait.

Brent Crude rose by $6.42 or 6.34%, while the US benchmark WTI gained 1.27% to $103.8/barrel.

The Iran-backed group’s control of Mokha and nearby Mayun Island has heightened fears for shipping through a route handling about 12% of global oil supplies.

Analysts said the development is especially serious because the Strait of Hormuz remains effectively closed amid intensified US-Iran attacks on tankers.

Saudi Arabia, which relies on Bab Al Mandeb for much of its Asian oil exports, has reportedly rerouted cargoes through the Mediterranean after previous Houthi attacks.