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Iran is threatening to activate the Houthis in Yemen, leading Saudi Arabia to launch preemptive strikes. Eric Schmidt reports the Houthis responded by threatening to close the Red Sea to Saudi traffic, opening a second front in the five-month-old war.
Saagar reports Yemen's Houthis announced a maritime embargo against Saudi Arabia in the Bab al Mandeb Strait, impacting 4.5 million barrels per day of Saudi oil exports. Martaza Hussein views this as a worst-case scenario threatening global economies.
Bab el-Mandeb is the new critical chokepoint: six million barrels per day transit there, mostly Saudi and Russian oil. Houthi or IRGC attacks could spook European insurers to cancel coverage.
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