[Houthis Control Key Red Sea Passage, Saudi Export Shipping Volume Drops to Pre-War Lows] According to a report by Golden Finance on September 19, citing CBS, the recent expansion of Houthi influence along the Red Sea coast has disrupted shipping through the Bab el-Mandeb Strait, leading to a significant decline in Saudi export transportation. Data from shipping analytics firm Kpler shows that in the past seven days, only five vessels carrying Saudi products passed through the Bab el-Mandeb Strait to exit the Red Sea, which is less than one-third of the average weekly level this year. The previous weekly high was 11 vessels during the week of July 24. The Bab el-Mandeb Strait is one of the critical routes for Saudi oil exports. The Houthis have stated that navigation in the area will not be threatened except for Saudi vessels, but the market remains concerned that any attacks could deter shipping companies from using this route. Data indicates that commodity tanker traffic through the Bab el-Mandeb Strait over the past seven days has been below normal levels but has not been completely halted.