Iran-backed
Houthi forces advanced rapidly over the past week, capturing the port of Mocha
and Perim island, which has driven Brent crude prices toward $110 a barrel amid
fears of shipping disruptions.
The U.S. is holding direct talks with the Houthis and supporting Saudi Arabia and the UAE without plans for strikes, while the UK sends military advisers in response to Riyadh's requests.
Analysts warn that full Houthi dominance could force ships around Africa, spiking costs and inflation as energy markets strain from Red Sea and Hormuz issues.