Investing.com -- The Iran war widened its impact on global energy and shipping routes on Saturday as Iran-aligned Houthi forces consolidated control of Yemen's Red Sea coast and Saudi Arabia kept its East-West oil pipeline shut following a drone attack launched from Iraq.
The Houthi advance gives the group control of Yemen's Red Sea coastline, including positions near the Bab el-Mandeb Strait, a major shipping route linking the Red Sea with the Gulf of Aden. The group has already threatened commercial traffic in the region for years, but its latest territorial gains strengthen its position along the waterway.
Saudi Arabia suspended its East-West pipeline after several drones struck the system, causing injuries and damage. The pipeline carries crude from eastern Saudi fields to the Red Sea port of Yanbu, providing Riyadh with a route that avoids the Strait of Hormuz.
The shutdown comes as traffic through Hormuz remains heavily constrained. The U.S. has reportedly narrowed military-protected sailing periods for tankers to two daily time slots after Iran stepped up attacks on vessels travelling at night.
Iranian officials are expected to meet representatives from Gulf states in Oman on Monday to discuss commercial shipping through Hormuz. Iran and Oman have already discussed a temporary shipping route and short-term demining measures, with Gulf countries expected to take part in talks over maritime security.