Yemeni government forces stated that they have recaptured the strategic port city of Mokka from the Houthi militia supported by Iran, in an attempt to weaken the militia's control over a vital oil route in the Red Sea.
The Yemeni government, supported by Saudi Arabia, stated on Monday that in a rapid advance, its forces had taken control of Mukalla after "fierce battles with Houthi terrorist militias supported by Iran" and seized several key locations along the coast surrounding the Strait of Mandeb.
Yemeni government forces also stated that they have launched a "strategic offensive" against the country's capital, Sanaa. Houthi militants have controlled Sanaa since 2014.
CNBC is unable to independently verify these claims. Houthi militants are reported to have denied that Mukalla has fallen.
Mocha is located about 75 kilometers (46 miles) north of the Strait of Mandeb. Historically, it has always been a major coffee export center in the region and is also the origin of the term “mocha”.
In addition to other key locations, this port city was seized by Houthi militants in early September. At that time, it was seen by the outside world as a major blow to Saudi Arabia, as it significantly increased the likelihood of the Iran-backed group gaining control of the Strait of Hormuz.
Iran's closure of the Strait of Hormuz – another strategically important oil passage on the other side of the Arabian Peninsula – has disrupted the energy market and sent shockwaves through the global economy.
On Monday, Saudi Arabia, Turkey, and Pakistan agreed to initiate "deterrence measures" and quickly deployed troops to support this oil-rich kingdom and to respond to attacks by Houthi militants in Yemen.
The agreement reached after an emergency meeting of defense ministers in Riyadh among the three countries states that they have a "firm commitment to collective defense" and hold a unified stance in addressing threats.
According to the Saudi Civil Aviation Authority, on Monday evening, two airports in Saudi Arabia were attacked, resulting in 3 injuries and minor damage.
The Saudi Civil Aviation Authority ( GACA ) issued a statement on social media on Tuesday morning stating that airports in Jizan and Najran were attacked amid escalating tensions with Houthi militants.
GACA indicates that efforts are being made in collaboration with relevant departments to ensure the safety of these facilities as well as the safety of the country's civil aviation system.
Tensions in the energy market "may continue"
In the early trading on Tuesday, oil prices fell slightly, with participants in the energy market closely monitoring the escalating conflict in the Middle East that began after the attacks by the United States and Israel on Iran in late February.
International benchmark Brent crude oil for December delivery fell 0.3% to $100.12 per barrel; it briefly dipped below $100 earlier in the session. US West Texas Intermediate (WTI) crude oil for November delivery fell nearly 0.9% to $88.63 per barrel.
An energy strategist, identified as ING, stated in a research report released on Tuesday: 'Although there are increasingly more signs that crude oil flows from the Persian Gulf are recovering, the market remains concerned about potential supply disruptions in the region. This is why oil prices are still supported at present.'
They added, "This tension may continue until we see progress in the agreement reached between the United States and Iran. Meanwhile, the risk of further escalation remains very real."
