Houthi forces consolidated control over Yemen’s Red Sea coast and Perim Island in September 2026, establishing positions that enable deterrence through missile, drone, and small-boat threats without a formal physical closure of the Bab el-Mandeb Strait. As of early November 2026, transits continue daily at reduced volumes—approximately 79 percent of prior-year levels—with container traffic rebounding sharply in October despite renewed escalation and persistent ISPS Security Level 3. Some carriers have resumed cautious passages, often with AIS disabled, while others maintain Cape of Good Hope diversions; oil flows have risen due to rerouting from the Strait of Hormuz. Ongoing Saudi-Houthi clashes, naval advisories, and war-risk insurance pressures sustain elevated but non-prohibitive risk, leaving the waterway open yet operationally constrained pending further military or diplomatic shifts.