How global trade and oil prices could be hit by Houthi advance

This post was originally published on this site.

Fighters from the Iran-backed Houthi group have seized territory close to the Bab al-Mandab Strait in the Red Sea – a key trade gateway that links Asia and Europe.

Houthis have said they pose no threat to international shipping but have reiterated their intention to target vessels from Saudi Arabia.

Saudi Arabia has increasingly relied on the Red Sea for oil exports since the US and Israel’s war effectively closed the Strait of Hormuz.

At least 46,000 people have been displaced in Yemen since fighting escalated last week, according to the United Nations.

BBC Verify’s Thomas Copeland reports.

Produced by Aisha Sembhi. Graphics by Mark Edwards.

Hot this week

Razaullah steals the show as Pakistan fight back to frustrate England

Shan Masood, Babar Azam and debutant Razaullah all reach...

Cricket: Today at the Test

Cricket: Today at the Test

Day 3 highlights from the third Test match between England and Pakistan at Edgbaston.

Topics

spot_img

Related Articles

Popular Categories

spot_imgspot_img