Yemen government forces say they have retaken the Red Sea port city of Mokha from the Iran-backed Houthis, a claim CNBC could not independently verify and the Houthis deny. Saudi Arabia, Turkey and Pakistan agreed to deploy forces and activate "deterrence measures" against the group after attacks hit two Saudi airports, while oil markets stayed on edge with Brent near $100 a barrel.
Yemen government forces said Monday they had reclaimed the port city of Mokha from the Iran-backed Houthis, aiming to loosen the group's grip on a critical Red Sea oil route. The Saudi Arabia-backed government said its forces fought their way into the city and captured several key locations on the coast around the Bab el-Mandeb Strait. CNBC could not independently verify the claims, and the Houthis have reportedly denied that Mokha fell.
Yemen government forces also said they launched a broader offensive on the capital, Sanaa, which the Houthis have held since 2014. The Houthis seized Mokha and other sites in early September, a setback that raised fears the group could gain control over the Bab el-Mandeb Strait.
Saudi Arabia, Turkey and Pakistan activate deterrence measures
Saudi Arabia, Turkey and Pakistan agreed Monday to activate "deterrence measures" and rapidly deploy forces to support Saudi Arabia and counter Houthi attacks. The agreement followed an emergency meeting between the countries' defense ministers in Riyadh. It said the three nations hold "a firm commitment to collective defense" and a unified position against threats.
Two Saudi airports were targeted in attacks Monday evening, injuring three people and causing limited damage, according to Saudi Arabia's aviation authority. Saudi Arabia's General Authority of Civil Aviation said airports in Jazan and Najran were hit amid escalating tensions with the Houthis, and that it was working with relevant authorities to secure the facilities.
Oil market nervousness persists
Oil prices eased slightly Tuesday morning as traders tracked the wider Middle East conflict, which began with U.S. and Israeli strikes on Iran in late February. Brent crude futures with December expiry traded 0.3% lower at $100.12 a barrel, after briefly dipping below $100 earlier in the session, while West Texas Intermediate futures with November expiry stood nearly 0.9% lower at $88.63.
ING energy strategists said signs of recovering oil flows from the Persian Gulf are keeping the market nervous but well-supported, adding that the nervousness is likely to persist until there are signs of progress in talks between the U.S. and Iran.
Source: CNBC
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