On Thursday, Iran-backed Houthis reportedly seized Yemen's key Red Sea port of Mocha and advanced toward strategically important islands. This move tightens their grip on a vital maritime corridor and adds another layer of uncertainty to global oil markets already reeling from the Iran war.

US Stock Futures, Oil Prices and Asian Markets Today

Dow futures rose 93 points, or 0.18%, to 52,188.00, while S&P 500 futures gained 9.50 points, or 0.13%, to 7,608.00. Nasdaq 100 futures slipped 4.50 points, or 0.02%, to 29,130.75 as of around 8:45 p.m. EDT.

In commodities, WTI crude oil rose 0.78% to $103.28 per barrel, while Brent crude advanced 0.85% to $108.54 per barrel. Natural gas futures fell 0.07% to $2.832 per MMBtu.

Meanwhile, the U.S. dollar index, which tracks the greenback against a basket of currencies, stood at 99.070, down 0.02% at the time of writing.

Asian markets traded lower, with South Korea's KOSPI falling 2.39% to 6,865.99, while Japan's Nikkei 225 declined 2.95% to 63,344.86.

Houthis Advance Toward Bab el-Mandeb

Yemeni government military sources said the Houthis captured Mocha and moved toward the Hanish Islands, increasing their leverage over the Bab el-Mandeb Strait, a critical maritime chokepoint linking the Red Sea with the Gulf of Aden, Reuters reported.

Control of the waterway could give Iran and its allies another potential pressure point over global energy shipments. The Strait of Hormuz, through which roughly one-fifth of global oil supplies previously passed, is already severely disrupted by the conflict.

The Houthi-controlled humanitarian operations center said Red Sea navigation remains safe for most shipping companies but warned that Saudi vessels are excluded.

The threat comes as Saudi Arabia increasingly relies on the Red Sea route after the conflict effectively restricted access through Hormuz.

Trump Faces Pressure Ahead of Midterms

The latest escalation complicates President Donald Trump's efforts to end the conflict.

Trump has said he expects the Iran war to conclude after the November midterm elections.

U.N. officials warned Thursday that Yemen was entering a "new and more dangerous phase," while the U.S. accused the Houthis of acting as Iranian proxies.

Meanwhile, only seven vessels crossed the Strait of Hormuz Wednesday, preliminary tracking data showed, the report noted.