Yemen's Houthis Launch Missiles at Israel, Bab al-Mandeb Shipping at Risk
Key Takeaways
- Houthis fired missiles at Israel, first strikes since the Iran-Israel war began.
- Houthis threaten to block Bab al-Mandeb, risking Red Sea shipping and global trade.
- Oil prices surged as the conflict widened and Red Sea shipping risks increased.
Houthis Enter Iran War
Yemen's Houthis openly joined the Iran war by launching missile strikes on Israel.
Brigadier-General Yahya Saree announced the group's first attack on Israel.
The Houthis warned they would continue operations until Israel ceased its attacks.
Bab al-Mandeb Strait at Risk
The Houthis threatened the Bab al-Mandeb Strait, a critical global shipping lane.
A closure could disrupt 10-12% of global oil shipments.
Rerouting around Africa would add up to three weeks of transit time.
Market Reaction
Brent crude oil prices surged past $116 per barrel.
Prices had already risen 59% in March.
The threats compounded existing supply chain tensions.
Regional and Global Implications
The Houthis' entry could widen the conflict across the Red Sea and Gulf of Aden.
Military bases operated by the US, France, and China sit nearby in Djibouti.
The corridor's strategic importance is underscored by its proximity to these bases.
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