Middle East Conflict Escalates, Oil Prices Under Pressure
The conflict in the Middle East has escalated, putting pressure on oil prices. The proposed talks between the Gulf States and Iran to discuss opening the Strait of Hormuz have been postponed.
Houthi rebels have seized the Bab al-Mandeb Strait in Yemen, which is likely to further constrain oil supplies.
The renewed fighting between Houthi and government forces has led to over 500 people being killed in Yemen.