The Houthis, Iran's allies in Yemen, are conquering strategic positions that could threaten passage to the Red Sea, one of the main routes of world oil trade. This advance represents a new risk factor for global energy markets.
The Red Sea is a waterway of crucial importance for oil transportation worldwide. Any threat to freedom of navigation on this route could have significant consequences for global crude oil supply.
If the Houthis manage to control or threaten this route, fuel prices could see new increases. Oil markets already face other inflationary pressures, and this situation adds more uncertainty to the international energy landscape.
