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

Yemen's Houthis have advanced and seized territory in close proximity to the Bab al-Mandab Strait. This strait is identified as a crucial chokepoint for both global shipping and the transit of oil. The article states that this development has the potential to impact global trade and oil prices. The specific timing of the seizure is not provided, but the location is central to the potential economic consequences.