Podbit · Up First from NPR
Yemeni Houthi rebels closed the Bab el-Mandeb shipping lane near the Red Sea, joining the Strait of Hormuz blockade and pushing oil prices to a 2-month high above $100 a barrel before dropping to $92. Iran is also demanding a Lebanon ceasefire as a condition for any deal with the U.S.
Where this was said
At 12:23 · chapter starts 9:07
What began as a U.S.-Iran confrontation has sprawled into a multi-front regional crisis. Jane Arraf reported that Yemen's Houthi rebels (Ansar Allah) closed the Bab el-Mandeb strait near the Red Sea — a critical chokepoint — in a move directed at Saudi Arabia, which backs the rival Yemeni government. [1] — Jane Arraf "Yemeni Houthi rebels closed the Bab el-Mandeb shipping lane near the Red Sea, joining the Strait of Hormuz blockade and pushing oil prices …" 12:23 Combined with the existing disruption to the Strait of Hormuz, the twin blockades pushed oil prices to a 2-month high above $100 per barrel last week, before dropping to $92 in Monday's trading. The economic ripple effects are already being felt at the gas pump, and Mara Liasson later notes this is one of the key factors voters are holding against Republicans heading into the midterms. Iran has also raised the diplomatic bar for any meaningful ceasefire: Tehran insists that a deal with Washington must include a simultaneous halt to Israeli military operations in Lebanon, where the Israeli military is occupying the south and fighting Iran-backed Hezbollah. Israel has pledged to withdraw from some test areas, but the process is crawling. The picture Arraf paints is of a conflict that has outgrown its original frame — and whose resolution depends on interlocking agreements across multiple theaters. [2] — Jane Arraf "Iran has reiterated that any real ceasefire with the United States requires a simultaneous ceasefire in Lebanon, where Israel is fighting I…" 13:40
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Yemen's Houthi rebels (Ansar Allah) closed the Bab el-Mandeb shipping lane near the Red Sea, a move aimed at Saudi Arabia.
Oil prices reached a 2-month high of over $100 per barrel last week due to blocked shipping lanes; it fell to $92 in Monday morning trading.
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