Houthi Threat Drives Up Oil Prices, Gas Costs for Americans

A recent House Foreign Affairs hearing has highlighted the growing Houthi threat to U.S. interests and Red Sea shipping, which is driving up oil prices.

As a result, Americans can expect pricier gasoline and transportation costs. Inflation fears are also pushing Treasury yields higher, potentially keeping mortgage and auto-loan rates high.

The hearing comes at a time when gas prices are already affecting consumers. On August 7th in Austin, Texas, the price of gas was being displayed on a sign outside a 7-Eleven station.