The Houthis Take Perim and Petroline Is Hit as Freight Rates Cross $1 Million a Day
Houthi forces seized Mokha, the Hanish Islands, and Perim Island in the Bab el-Mandeb by September 11. A pumping station on Saudi Arabia's East-West pipeline was attacked and shut down on September 10. VLCC spot rates for transiting Hormuz crossed $1 million per day.
Why it matters: This development directly affects the maritime chokepoints theme, as Houthi control of Perim Island gives them effective control over the Bab el-Mandeb strait.