IEA warns of Bab al-Mandab threat to oil supply

PARIS, France — PARIS — The International Energy Agency has warned that threats to the Bab al-Mandab Strait are fueling concerns about global oil supply, saying the risk of Iran and Yemen's Houthis closing the strait is becoming increasingly significant alongside the potential shutdown of the Strait of Hormuz. The agency reported that member states have drawn down about 290 million barrels from emergency stockpiles since March, with more than one billion barrels still held in government-controlled reserves. According to a Reuters report citing three sources, Iran has instructed the Houthis to prepare to close the Bab al-Mandab if the United States strikes Iranian electrical infrastructure. Reuters, citing the same sources, said the option is being considered within Iran's command and has been communicated to its Houthi allies. Houthi spokesman Yahya Saree said in a video statement that a maritime ban targeting Saudi Arabia has taken immediate effect. He did not address the IEA warning or the reported Iranian instructions in the statement.