Yemen Retakes Mocha Port; Oil Markets in Focus as Hormuz Transits Rise

Yemen’s military has announced the recapture of the strategic Red Sea port of Mocha, marking a significant advance in its broader campaign to reclaim territory from Houthi forces. The development puts the internationally recognized government closer to controlling the Bab el-Mandeb Strait, a vital chokepoint for global oil shipments. Meanwhile, oil markets remain on high alert after the G7 released as much as 100 million barrels of emergency oil and diesel to stabilize prices. Saudi Aramco issued a warning even as the kingdom’s East-West oil pipeline operates normally, and Kuwait’s oil output has recovered to 75% of prewar levels. With Hormuz transits rising, Iraq is seeking additional tankers to manage its oil exports through the strait. The complex interplay of military gains, emergency reserves, and infrastructure logistics continues to drive volatility in energy markets, with global bonds also feeling the strain.