Houthi Rebel Advance Threatens Oil Exports, Pushes Fuel Prices Higher

Yemen's Iran-backed Houthi rebels have been making headlines in recent days after storming down the Red Sea coast, extending their reach to a key maritime chokepoint and threatening Saudi Arabia's oil exports.

The Houthis' biggest land grab in years has reignited Yemen's 12-year civil war, pushing up global fuel prices in the process.

According to reports, this development also gives Iran another potential source of leverage as the United States has started to loosen Tehran's grip on the Strait of Hormuz, located on the other side of the Arabian Peninsula.