Iranian forces have disrupted shipping through the Strait of Hormuz since President Donald Trump and Israel attacked Iran on Feb. 28, while Yemen-based Houthi forces have seized Perim Island, control the Red Sea port of Mocha and claim control of the Bab al-Mandab Strait. A drone attack launched from Iraq also forced Saudi Arabia to shut its 1,200-kilometer East-West oil pipeline, a key Hormuz bypass that had carried an estimated 4% to 5% of global oil supply. The developments have pressured energy routes on both sides of the Arabian Peninsula, pushed crude prices above $100 a barrel and increased risks to inflation, freight costs, interest rates and global growth. Saudi crude flows through Bab al-Mandab fell to about 400,000 barrels a day in August from a peak of roughly 3 million barrels a day, while Saudi oil exports reached their lowest level in at least 13 years. Brent crude briefly approached $110 a barrel before falling to $104 on Sept. 11, and the average U.S. diesel price rose to $6.06 per gallon, according to AAA.