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Middle East tinderbox: Pro-Iran Houthis up the ante. Iran-backed rebels in Yemen open new front in the Red Sea. The Houthi rebels declare a naval blockade of Saudi Arabia. Houthis’ blockade of Saudi: Global oil supplies in trouble…Hormuz Strait blocked up, Saudi been relying on the Red Sea. Saudi has been using pipeline to the Red Sea to get oil out. Houthi-run news agency: At least 6 ships forced to reroute. SABA News Agency: The ships rerouted due to Houthi threats. Houthi officials warn international shipping companies. Avoid transiting through Bab el-Mandeb, warn Houthis. The Bab el-Mandeb Strait. Entry-exit point of the Suez canal. 12% of global trade passes through the Suez canal. Bab el-Mandeb links Asia, Africa & Europe in maritime trade. 10% of globally transported oil passes through the Strait
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