Yemeni Houthi rebels have captured the strategic port city of Mocha from government forces backed by Saudi Arabia, according to military sources. This advance brings the Iranian-backed group within 75 km of the Bab-el-Mandeb Strait, a crucial global trade route connecting Asia and Europe. The capture of Mocha is particularly concerning as Saudi Arabia has been diverting oil exports from the Strait of Hormuz to the Red Sea due to ongoing conflict. This development could potentially cause a sharp rise in global oil prices. The Houthi offensive, launched a week ago in southwestern Yemen, has resulted in hundreds of deaths and displacement of thousands. In response, the Saudi-led coalition supporting the Yemeni government has launched airstrikes against Houthi positions, while the rebels have retaliated with missile and drone attacks on Saudi cities and oil facilities. Civilians fleeing Mocha report fierce clashes before the Houthis entered the city, and are now migrating towards Aden, which remains under government control.