Yemen

Yemen's Houthi movement, an Iran-aligned group, is currently newsworthy due to its attacks on shipping in the Red Sea, particularly targeting Saudi vessels and energy tankers. These actions have led to a naval blockade and are significantly impacting global fuel prices, causing a domino effect on construction material costs and leaving laborers in Yemen without work. Saudi Arabia is seeking an international coalition to safeguard shipping lanes, as the Houthis aim to replicate Iran's strategy of controlling vital waterways like the Strait of Hormuz by asserting control over the Bab al-Mandeb Strait. The escalating conflict, involving US strikes on Iran and Iranian responses, further highlights the regional instability and the Houthis' role within it. The crisis exacerbates an existing energy crisis, affecting economies as far as Asia.