Yemen’s Iran-backed Houthi rebels are considering imposing fees on commercial ships sailing through the southern Red Sea, Reuters reported on Wednesday. This development came a week after the Houthi declared a naval blockade on Saudi Arabia. The source said Houthi officials were looking into imposing fees on most traffic through the narrow Bab el-Mandeb gateway, which links the southern Red Sea with the Gulf of Aden. The objectives of such a move would be to normalize the practice of imposing fees on international waterways and raise pressure on the US. At the time of writing, the West Texas Intermediate (WTI) is up 6.33% on the day at $83.32.