SanaaHouthi fighters now hold Perim Island near the shipping lane.
It gives Iran’s allies leverage over 35% of global oil shipping, Chatham House says.
A strait closes by risk, not blockade — gunners near the lane raise war-risk insurance for every Suez-bound ship.
Saudi Arabia weighs striking back or negotiating terms with a group now holding its coast.
Sources: BBC, RT, Al Jazeera Online, Inquirer, The National