Commodities
Houthi Rebels Threaten Bab el-Mandeb Strait, Escalating Iran-US Conflict
The Bab el-Mandeb Strait in Yemen is under threat from Houthi rebels, who have launched a lightning offensive against Saudi Arabia and its allies. This strategic maritime passage connects the Red Sea to the Indian Ocean and carries nearly 9% of global maritime trade.
The escalation in Yemen benefits Iran, which is seeking to force US President Donald Trump's hand through a surge in oil prices, just weeks ahead of challenging midterm elections in the US.
The Houthi rebels' offensive highlights their determination to take advantage of regional chaos unleashed by the US-Israeli war against Iran. They intend to establish themselves as indispensable players in this part of the Middle East.