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Houthis have effectively taken control of Bab el-Mandeb Strait after seizing Perim Island in an 18-hour blitz. "Everything that was under our control on the western coast has fallen," a Yemeni government military official told AFP. 8.1 MILLION barrels of oil per day passed through the strait in Q2, per the EIA. Combined with Iran's disruption of Hormuz and the Saudi pipeline shutdown,two of the world's three major oil chokepoints are now controlled or threatened by Iran-aligned forces. $LAB