Brent and WTI crude prices jumped ~$6.40 per barrel on September 10 following Houthi seizure of Mocha port in Yemen, heightening Red Sea shipping concerns. OPEC cut its 2026 global oil demand growth forecast for the fifth consecutive time to 380,000 bpd, citing weaker-than-expected demand amid global economic slowdown. While Hormuz Strait transits declined to 7 vessels from 12, alternative Saudi exports via Yanbu in the Red Sea rose to 3.7 million bpd in September from 3.2 million in August, signaling market adaptation to geopolitical pressures.