Houthi forces have captured the whole of Yemen’s Red Sea coastline, reaching all the way to the critically important Bab al-Mandeb shipping gateway, as the group’s rapid offensive continued on Friday.On Thursday, the Houthis seized the port city of Mocha, dealing a heavy blow to the Yemeni government backed by neighbouring Saudi Arabia.Recommended Stories list of 4 itemslist 1 of 4Oil soars to $109, pushing up chances of US interest rate increaselist 2 of 4Yemen war escalates: Who are the key actors involved?list 3 of 4Houthis advance along Yemen’s southern Red Sea coastlist 4 of 4Saudi political analyst says ‘No prolonged war with the Houthis’end of listAnalysts are calling the Iran-backed Houthi group’s victories the most significant regional development since the US and Israel declared war on Iran in February.The offensives could be particularly damaging for Saudi Arabia and its oil exports. The Houthis, who declared a blockade of Saudi-flagged ships in the Red Sea earlier in the year, now have a much firmer control of the Bab al-Mandeb waterway, which Riyadh increasingly relies on for oil exports following blockades of the the Strait of Hormuz at the entrance to the Gulf, exper...

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