Houthis seize Bab al-Mandab island; Saudi Red Sea pipeline shut after drone strike

Houthi forces have taken control of an island in the Bab al-Mandab Strait, and Saudi Arabia has closed a Red Sea pipeline following a drone attack. Despite the escalation, oil prices are half their pre-war levels and regional flows are rising, suggesting market resilience or shifting supply routes. The incident marks a direct threat to a critical chokepoint, but the full impact on energy markets remains uncertain.