Middle East Conflict Escalates as US and Iran Clash Over Control of Vital Waterway

The conflict between the United States and Iran is escalating across multiple fronts in the Middle East. At its core, this escalation stems from a struggle over control of the Strait of Hormuz, a vital waterway that carries nearly a fifth of the world's traded oil and gas.

The US has struck back against Iranian forces after they fired missiles at Jordan. Iran-backed Houthis in Yemen have declared a blockade on Saudi Arabia, threatening shipping through another major trade route. The situation is further complicated by the presence of thousands of US troops based in allied Arab countries that have been targets of Iran's retaliation.

The Houthis' naval blockade has already led to 10 ships turning back or rerouting in the Red Sea and Gulf of Aden since its announcement. Bab al-Mandeb transits have decreased by 30% compared to June, according to Ambrey data.