The Stalemate With Iran Is Not Sustainable
The war with Iran has expanded to critical energy infrastructure. The Houthis now control the Bab el Mandeb Strait, and a drone struck Saudi Arabia's East–West pipeline, temporarily disabling it. Oil prices rose from the mid-$70s in August to $110 per barrel in September.
Why it matters: This matters for the theme of energy security because the expansion of attacks on energy infrastructure threatens global supply and could push oil prices to $150 or $200 a barrel, risking a recession.