Breaking News · Sep 11, 2026Oil Jumps 8% as Houthis Near Control of Bab al-Mandeb Strait

KEMETIC MINDS — BREAKING NEWS
September 11, 2026

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Crude oil prices rose by roughly USD 7 a barrel and US stocks closed lower on Thursday after Iranian media reported that the Houthis are nearing complete control of the Bab al-Mandeb Strait, according to Newsquawk’s Asia-Pac opening news for September 11, 2026 ^[1].

Key Facts

• West Texas Intermediate for October 2026 rose 8.2% and Brent for November 2026 rose 7.9%, with the crude complex gaining about USD 7 a barrel ^[1].
• Iranian media reported the Houthis are nearing complete control of the strategic waterway, followed by reports of control over Zaqar and Mayun islands, the Al-Omari military base, and Al Mukha city ^[1].
• The 30-year Treasury yield hit 5.366%, its highest since 2007, while the 10-year topped out at 4.954%, a peak since November 2023 ^[1].
• The S&P 500 fell 0.6%, the Nasdaq Composite 0.7%, the Dow Jones Industrial Average 0.6%, and the Russell 2000 1.0% ^[1].
• The dollar strengthened, with the DXY up 0.3% at 99.08, while spot gold fell 1.9% ^[1].

Yields Hit Multi-Year Highs as Oil Drives Markets

Newsquawk reported that surging oil prices “dictated price action across markets,” pushing Treasury yields sharply higher, lifting the dollar, and weighing on spot gold ^[1].

The report said the move produced new year-to-date highs in all durations of notes and bonds, which it described as strong support for the dollar ^[1]. The dollar also tracked US yields and oil higher, with EUR/USD down 0.2%, USD/JPY up 0.5%, and GBP/USD down 0.3% ^[1].

Metals moved lower alongside the shift. LME copper fell 4.0%, and Bitcoin dropped 1.4% while Ethereum slipped 0.4% ^[1]. The snapshot was recorded as of 21:50 BST and 16:50 EDT ^[1].

The stated risk to shipping

Newsquawk reported that the Houthis’ expansion in Yemen and the Red Sea “leaves it posing a greater threat towards Saudi vessels in the key waterway” ^[1].

Fed Decision Hinges on Friday’s CPI

US producer price index data came in as a mixed report and drew limited market reaction, according to the report ^[1].

Traders are waiting on Friday’s consumer price index figures, which Newsquawk said will likely dictate what the Federal Reserve does at its September meeting ^[1].

Initial and continuing jobless claims were little changed week over week, which the report described as signalling a continuation of a low fire-and-hire labour market ^[1].

Looking ahead, the report flagged Japanese PPI and BSI Manufacturing data, Malaysian unemployment figures, and supply from Australia ^[1].

What’s Still Unconfirmed

The reports of Houthi control over the Bab al-Mandeb Strait, Zaqar and Mayun islands, the Al-Omari military base, and Al Mukha city are attributed in the sourcing to Iranian media and are described as reports, not independently confirmed accounts ^[1]. The report also states the CPI release will “likely” dictate the September Fed decision rather than presenting that outcome as settled ^[1].

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References

1. Newsquawk. (2026, September 10). Newsquawk Daily Asia-Pac Opening News – 11th September 2026. newsquawk.com ↩a ↩b ↩c ↩d ↩e ↩f ↩g ↩h ↩i ↩j ↩k ↩l ↩m ↩n ↩o ↩p ↩q ↩r

Additional sources consulted

• ISEAS – Yusof Ishak Institute. (2026, September 11). Daily News on Southeast Asia – 11 September 2026. iseas.edu.sg

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