Yemen’s Houthis cement hold on vital shipping corridor linking Europe and Asia
On Sept 11, the Houthis seized control of Yemen’s entire Red Sea coast and captured three strategic islands. Saudi Arabia shut down an oil pipeline following attacks, and oil prices have soared past US$100 a barrel this week.
Why it matters: This deepens the geoeconomic impact on global energy trade by placing a second Middle East chokepoint under Iranian-aligned control.