China presses Iran to rein in Houthis as Brent crude slides toward $104

China has urged Iran to use its influence over Yemen’s Houthi forces to curb their military advances along the Red Sea coastline, a diplomatic move that came after Saudi Arabia directly appealed to Beijing for help. Oil prices slid on the news, with Brent crude dipping toward $104 to $105 and WTI hovering around $100 to $102. The drop was compounded by reports that Saudi Arabia was offering additional crude cargoes through Oman, easing some immediate concerns about supply disruptions, along with a smaller-than-expected draw in US crude inventories. Why China is getting involved China accounted for over 80% of Iran’s seaborne oil exports in 2025, averaging roughly 1.4 million barrels per day. That gives Beijing enormous economic leverage over Tehran, even if Chinese officials have so far avoided explicit threats of economic coercion in their discussions. The Houthis recently captured strategic positions along Yemen’s Red Sea coast, including the port of Mokha and Perim Island around September 10 to 11. Perim sits at the southern entrance to the Bab el-Mandeb Strait, one of the world’s most critical chokepoints for maritime trade and oil shipments. Traffic through the Bab el-Mandeb h...