Yemen's Houthis Threaten Global Oil Supplies Amid Rising Tensions
The Houthi group in Yemen has announced a maritime blockade targeting Saudi Arabia, potentially disrupting oil exports through the Bab el-Mandeb Strait. This could reduce global oil supplies by up to 7%, exacerbating existing supply concerns and pushing crude prices higher.
Topics: consumer spending Houthis oil prices Red Sea blockade S&P 500