Houthis open new front in Middle East war, oil prices rise

Houthis have seized an island along the Bab el-Mandeb Strait, marking their most significant territorial gains in years and opening a new front in the Iran war. Consequently, Saudi Arabia has shut down a pipeline, leading to rising oil prices. These developments could strain global economies and support Iran's strategy of increasing energy costs to pressure the U.S., potentially prompting strategic shifts in international energy policies and market responses to the Middle East tensions.