Houthis' Yemen Seizure Sends Oil Prices Soaring
The Trump administration is facing a difficult decision in the Middle East after Iranian-backed Houthi militants seized control of the Red Sea port of Mokha and three strategic islands. The move has further squeezed world energy markets, with oil prices spiking to $109 a barrel on Monday.
According to sources, Yemeni forces backed by Saudi Arabia were unable to repel the Houthi advance, leaving the White House with limited options. One possible course of action is for the US to join the fray and support the Saudi-led coalition in its efforts to push back against the Houthis.
However, this would come at a significant cost, both financially and diplomatically. Alternatively, the administration could choose to stand down and allow the region to sort out the Houthi threat on its own, potentially leading to further destabilization of the area and higher oil prices.