Houthi Advances in Yemen Raise Oil Prices and Tensions with Saudi Arabia

The conflict between Saudi Arabia and Yemen's Iran-aligned Houthi militia has escalated in recent weeks, with the Houthis capturing strategic territory along the Red Sea coast. This development poses a significant threat to Saudi oil supplies on its western coast, which could disrupt global energy markets.

The international community is watching this situation closely, particularly given the current high price of oil at over $100 per barrel. The US-Saudi Strategic Defense Agreement and other defense pacts between Saudi Arabia and key regional players have not been invoked, leading to questions about why these countries are not taking more direct action against the Houthis.

Pakistan and Turkey, signatories to a mutual defense pact with Saudi Arabia, have stated that they have not received requests for military intervention. The US has also declined Saudi requests for direct military involvement, citing concerns about escalating the conflict and further destabilizing the region. The Iran factor is also at play, as the Houthis are largely supported by Tehran.