Houthi attacks raise fears of a wider Middle East conflict
The Iran-backed Houthi movement in Yemen has threatened to target Saudi vessels in a vital shipping route. The threat is deepening fears of a wider regional conflict and further damage to the global economy.
The Iran-backed Houthi movement, speaking from Yemen, has announced it will target Saudi Arabia's vessels along a vital shipping route. The threat has heightened fears that regional tensions could escalate further.
Analysts say a potential Houthi attack could disrupt global supply chains and push already elevated oil prices even higher. Maritime insurance costs in the region are also expected to rise as a result.
Experts stress that the tension carries economic as well as military consequences. Global markets continue to closely track developments in the region.
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