

OIL-TRADE — MAJOR DEVELOPMENTS IN YEMEN
The war in Yemen flared up and the Houthis seized much territory from the Saudi-backed government.
The coastal areas they seized are of key importance and essentially allow control over the Suez Canal.
Iran blocks traffic through the Strait of Hormuz and chokes the energy market worldwide.
The Houthis, strong allies of Iran, can now choke the 30% of global container traffic flowing through the Suez Canal via the Bab al-Mandab Strait.
The Houthis are still moving … we’ll see how it develops further.
Did Iran just gain more control over global trade and huge leverage through their allies?

Mohammed Ali al-Houthi, the head of the Houthis, personally drives through newly captured Al-Jarrahi.
He’s mocking the Saudis, since he is driving an armored vehicle of the Saudi-backed government forces.
Meanwhile, the Saudi-backed forces retreat and the Houthis captured many prisoners.
The situation for the Saudis and UAE is not pleasant. They most likely will escalate in return.
Mike