The Aporia
On Monday, talks scheduled in Muscat, Oman, between Iran and other regional countries on controlling the strategic Strait of Hormuz were postponed indefinitely "in the interests of consensus," according to Oman's government. This delay comes amid rising tensions as fighting intensified between Iran-backed Houthi rebels and Saudi forces in Yemen, with Houthis capturing new ground that threatens Saudi oil exports via the Red Sea. The postponement coincided with a meeting cancellation involving Persian Gulf states and Iran due to recent Houthi attacks on Saudi Arabia. Oil prices jumped, with Brent crude reaching about $108 per barrel, its highest point in nearly four months, amid fears of further disruptions to global oil supplies through the Strait of Hormuz and Bab el-Mandeb waterway.
Iran-backed Iraqi militias recently forced the closure of the kingdom’s East-West pipeline, which had emerged as a key conduit for oil exports following the closure of the Strait of Hormuz.
Meanwhile, Houthi rebels in Yemen, also supported by Tehran, have increased their onslaught against southern targets, seizing strategic islands in the Bab el-Mandeb waterway.