The Red Sea Blockade: A New Flashpoint in Global Oil Politics The recent blockade of the Bab el Mandeb strait by Yemen's Houthis has sent shockwaves through the global oil market, pushing prices to a seven year high.
Behind this dramatic rise lies a complex web of geopolitics and strategic maneuvers that threaten traditional notions of global energy security.
At first glance, the Houthi blockade may seem like another iteration in the long standing conflict between Saudi Arabia and Iran.