How Global Trade and Oil Prices Could Be Hit by Houthi Advance The latest developments in Yemen have brought the global economy to the edge of a precarious precipice, as Iran backed Houthi forces gain control over territory near the Bab al Mandab Strait.
This strategic waterway is a vital trade artery connecting Europe and Asia, and any disruption could have far reaching consequences for economies dependent on oil imports.
The Houthi's intentions are ambiguous, but their stated goal of targeting Saudi vessels has raised concerns about the safety of international shipping in the Red Sea.