The Houthi capture of Yemen’s Red Sea coastline is altering the Gulf’s strategic balance by giving Iran-aligned forces influence over Bab el-Mandeb, a vital shipping route, while Saudi Arabia faces renewed pressure on its oil exports. Riyadh had redirected much of its crude through Red Sea ports after the Strait of Hormuz was effectively closed, but shut the attacked pipeline carrying that oil on Friday. Regional officials and analysts say simultaneous pressure on Hormuz and Red Sea shipping could lift oil prices, fuel inflation and weaken Gulf confidence that Washington can quickly resolve the crisis. The reported refusal by U.S. President Donald Trump to approve a Saudi request for strikes against the Houthis has added to arguments in some Gulf capitals for direct engagement with Tehran. Gulf foreign ministers are due to meet Iranian Foreign Minister Abbas Araqchi in Oman on Monday to discuss an Omani-Iran-backed temporary arrangement for Hormuz shipping, with Saudi Arabia, Qatar, the United Arab Emirates, Iraq and Kuwait expected to participate; Bahrain is not expected to attend. Iranian President Masoud Pezeshkian said he had held good talks with UAE Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan on the sidelines of the BRICS leaders’ summit in New Delhi. Analysts view the developments as part of Iran’s gradual strategy and say Gulf states may pursue parallel diplomacy and security arrangements less dependent on the United States. The confrontation also reflects the Houthis’ evolution from a Yemeni insurgent movement into an Iranian ally capable of using geography to affect global trade and oil markets.