Houthi forces backed by Iran captured the Red Sea port city of Mokha on September 10, giving them near-complete control of Yemen's coastline near the Bab al-Mandeb Strait. The advance lands alongside a separate Wall Street Journal report that Iran has resumed ballistic missile production since late May 2026, faster than Israeli intelligence expected.
Yemen's Houthi forces seized the port city of Mokha from Saudi-backed government troops on September 10, capping a ground offensive that Tehran backed with arms and tactical advice, according to Crypto Briefing. The city sits roughly 75 km north of the Bab al-Mandeb Strait, and the Houthis now hold nearly the entire Yemeni coastline overlooking it.
Houthis tighten their grip on the strait
Between 10% and 12% of global trade passes through the Bab al-Mandeb Strait, the narrow passage linking the Red Sea to the Indian Ocean. With Mokha under their control, the Houthis' ability to project force over the strait's approaches grows, building on the drone and missile attacks they launched against commercial shipping through 2024 and into 2025.
Houthi strikes on targets in southern Saudi Arabia have also disrupted oil facilities, adding upward pressure on global crude oil prices. Shipping insurance, which had already surged during the 2024 attacks, could climb further, and lines that rerouted around the Cape of Good Hope face added transit days and billions in extra fuel costs.
Iran rebuilds its missile arsenal in parallel
Away from Yemen, Iran has restarted production of ballistic missiles, drones and air-defense systems since late May 2026, the Wall Street Journal reported, citing US and Israeli intelligence assessments. The rebuild follows US and Israeli strikes earlier in the year that targeted Iran's military infrastructure.
Satellite imagery shows 50 of 69 known missile storage sites had reopened by mid-2026, and production is projected to reach 50 to more than 200 missiles a month. Iran retained roughly 70% of its pre-war stockpile of 2,500 medium-range missiles capable of reaching Israel, leaving about 1,750 in place before the new production lines began adding to that total.
A ceasefire unwinding on two fronts
Yemen's informal ceasefire, in place since 2022, began unraveling by mid-2026 alongside increased Iranian involvement, with the Mokha campaign standing as its most visible result. Iran's missile program has historically served as leverage in negotiations and a deterrent against direct military action on its territory.
Sources: Crypto Briefing, Crypto Briefing
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