New threat to global oil supplies

Houthis in Yemen are seeking to broaden the impact of the US-Iran war with a blockade of Red Sea ports. The Tehran-backed group warned it would impose an "embargo" on the top oil exporter Saudi Arabia, after the two sides traded fire for the first time in years. Disruption to maritime traffic through the Bab el-Mandeb could further compound the turmoil caused by the confrontation between the US and Iran in the Strait of Hormuz.

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