The Red Sea Straitjacket: Houthis' Rise Threatens Global Energy Trade The Houthi takeover of the Red Sea coast in Yemen has sent shockwaves through the global energy market, pushing oil prices above $100 per barrel and raising concerns about the security of alternative routes to the Strait of Hormuz.
This sudden escalation is linked to the ongoing Iran war, which has strained Tehran's economy and limited their ability to export oil. The US blockade of Iranian ports has had unintended consequences for the region.
By straining Tehran's economy and limiting their ability to export oil, Washington has inadvertently emboldened other actors in the region to take advantage of the situation.