Commodities
Yemen Conflict Threatens Global Trade and Economies with Surging Oil Prices
The conflict in Yemen has escalated, threatening global trade and economies.
The Houthi rebels have seized nearly all of Yemen's Red Sea coastline, giving them control over the Bab al-Mandab Strait, a key chokepoint for global trade.
The Houthis' attacks on energy facilities in Saudi Arabia have forced Riyadh to temporarily shut down its East-West pipeline, which could send shockwaves around the world if prolonged or blocked.
Oil prices have surged due to the conflict, rising to $110 a barrel in mid-September before falling slightly.