Iran-Houthi threats to Bab el-Mandeb Strait heighten fears of global oil supply disruption
AI summaryAs Iran declares full closure of the Strait of Hormuz, its top adviser warns of a 'chain-reaction' response in other critical shipping lanes, including the Bab el-Mandeb Strait. Such a move would sever Saudi Arabia's only remaining oil export route, escalating an already severe energy crisis. The IMF warns that reduced traffic in these waterways may become the 'new reality' with global economic consequences.