Houthi Advances Threaten Global Trade and Oil Markets
Recent advances by the Iran-backed Houthi group in Yemen threaten the Bab al-Mandab Strait, a crucial trade route linking Asia and Europe, raising concerns over global trade and oil prices. Despite claims of not targeting international shipping, the Houthis have indicated intentions to strike Saudi vessels, complicating Saudi Arabia’s oil export strategies amidst an ongoing humanitarian crisis in Yemen, with over 46,000 people displaced.