▼ Bearish for Indian equities
Yemen forces reclaim key Red Sea port city from Iran-backed Houthis in major counteroffensive
The brief
- Yemen forces reclaimed a key Red Sea port city from Iran-backed Houthis
- Brent was trading around $100 a barrel amid risks of further escalation
- Middle East supply risks could raise crude costs for Indian oil-marketing companies and other fuel users
Yemen's campaign against Houthi forces
Yemeni government forces attacked Houthi positions near the Bab el-Mandeb Strait as part of a wider campaign to retake territory. Yemen’s armed forces said they had retaken Mocha after battles with the Houthis.
Tuesday, 6 October
- Yemen forces reclaim key Red Sea port city from Iran-backed Houthis in major counteroffensive