Iran‑backed Houthi fighters have seized territory near the Bab al‑Mandab Strait in the Red Sea, a crucial artery for trade between Asia and Europe.
The group states it poses no threat to international shipping but reaffirmed its intention to target vessels from Saudi Arabia.
Saudi Arabia has increasingly used the Red Sea for oil exports after the Strait of Hormuz was effectively closed due to recent conflict between the United States and Israel.
At least 46,000 people have been displaced in Yemen since combat intensified last week, according to the United Nations.
The situation threatens to disrupt global trade flows, raise oil transportation costs, and could push market prices higher.
