The new oil threat plaguing Trump
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You've heard of the Strait of Hamouse, vital global shipping route that's been thrown into turmoil by Donald Trump's war with Iran. Well, now there's another major threat to the world's oil supply. The Iran-backed Houthis in Yemen are moving to disrupt shipping through the Red Sea. Putting another vital oil corridor at risk. Today, former US Special Envoy to Yemen, Tim Lender King. Explains the latest escalation. And what it means for global oil supplies. I'm Sam Hawley on Gadigo Land in Sydney. This is ABC News Daily.
A complicated conflict has just become more complex. Saudi Arabia's east-west pipeline has been struck by missiles launched from Iraq, likely fired by Iran's proxies. Another looming problem is Yemen's Houthi rebels, who've seized more key islands in the southern Red Sea. Global shipping has been dealt another blow as the Iran-backed Houthis captured the critical coastal town of Mocca in Yemen. Mocca sits on the edge of the Babel Mandeb Strait, the Red Sea shipping gateway, through which millions of barrels of Saudi oil have flowed. Now that trade route is under threat.
Tim, I think motorists would have noticed by now that fuel prices have jumped substantially in a rather short period of time here in Australia and of course there in the United States. It's definitely on the up, isn't it?
Well, certainly is. I think all Americans notice this. You can't help but notice the higher price of fuel. Groceries and other products, airline tickets, of course, travel in general. So these are ways that I think that the uh problems in the Strait of Hormuz and the conflict with Iran has contributed to uh to some economic pain here in the United States.
Yeah, and around the world. And what the world really needed, of course, Tim, was for the Strait of Humuz to reopen. But now it's even worse, right? Because Houthi militants backed by Iran have expanded their control of parts of the Red Sea. Just explain what's happening for me.
That's a related but somewhat separate conflict and lesser known. Of course as it applies to Yemen located at the southern end of the Arabian Peninsula there. But yes, the Houthis are a militant group that has been, you know, increasingly gathering territory. In Yemen over the last ten years or more since they took over the capital Saddam in two thousand fourteen, and they've moved since then to consolidate power in in many parts of the country. But there is a government of Yemen also, and that's the internationally recognized and internationally backed government of Yemen. There has been a Yemen civil war, but there was a truce that was uh set in place In two thousand twenty two, and that truce is held from twenty twenty two until
Just about a month ago, in fact, it really had helped tamp down the violence inside Yemen, and then there's you know, on top of that, there's a very serious humanitarian situation. But the Houthis have have basically been an aggressive force in the sense of trying to consolidate power, being largely rejected by the international community and in indeed being rejected by most Yemenis themselves.
And now of course they are disrupting one of the world's most important shipping routes. So what have they done?
So I mean, just in the last week or two and this you know, this has s started to escalate in the last month or so, but just in the last week or two They've moved the front lines from the truce that was established in twenty twenty two. They've moved into the west and into the south.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–4:58
2
What is causing the new threat to global oil supplies in the Red Sea?
4:58–10:35
3
How have the Houthis recently expanded their control in Yemen?
10:35–12:22
4
Why does the capture of Mokha port matter for world oil shipments?
12:22–13:33
5
What impact is the Red Sea disruption having on fuel prices worldwide?
13:33–16:04