Story perspectives

Iran-Houthi Seize Bab al-Mandab Strait, Tightening Oil Chokehold

By Drooid · Sep 19, 2026, 12:29 AM UTC · How we work

Summary

Story summary

Iran’s Houthi allies seized Bab al-Mandab Strait, tightening the chokehold on Saudi oil.
U.S. President Donald Trump said the seven-month Iran war is hopefully nearing its end.
Brent crude fell to $109.80 per barrel, below the 2022 peak of $139.
Trump forecast gasoline prices dropping below $2 a gallon after the November midterms.
U.N. investigators said two U.S. strikes may constitute war crimes, killing at least 178 civilians.

History

Historical Context

In 1973, OPEC’s Arab oil embargo sparked a worldwide energy crisis, slashing shipments to the United States and raising geopolitical tensions. Led by Saudi Arabia and Iran, the embargo drove crude prices from roughly $3 to $12 per barrel—a 300 percent surge—while the United Nations condemned the disruption. The recent Houthi capture of the Bab al-Mandab Strait, backed by Iran, mirrors that 1973 supply shock by again choking Saudi oil exports and rattling markets. Consequently, policymakers revive strategic petroleum reserve plans and accelerate diversification, fearing price spikes akin to the 1970s surge that once reached $12 per barrel.

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Story summary

Iran’s Houthi allies seized Bab al-Mandab Strait, tightening the chokehold on Saudi oil.
U.S. President Donald Trump said the seven-month Iran war is hopefully nearing its end.
Brent crude fell to $109.80 per barrel, below the 2022 peak of $139.
Trump forecast gasoline prices dropping below $2 a gallon after the November midterms.
U.N. investigators said two U.S. strikes may constitute war crimes, killing at least 178 civilians.

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