IEA warns Bab al-Mandab threats are tightening grip on oil supply

The International Energy Agency said threats to the Bab al-Mandab Strait have deepened concerns over oil supply, noting that the risk of a closure by Iran's allies, Yemen's Houthis, is becoming increasingly significant alongside concerns about the Strait of Hormuz. The agency reported that member countries have drawn roughly 290 million barrels from emergency stockpiles since March, with more than one billion barrels still held in government-controlled reserves. According to Reuters, which cited three sources, Iran has instructed the Houthis to prepare to close the Bab al-Mandab if the United States strikes Iranian electrical infrastructure. The report said the option has been discussed within the Iranian command and communicated to the allied group. In a televised statement, Houthi spokesman Yahya Saree announced an immediate maritime ban on Saudi Arabia.