Iran-Houthi control of Hormuz and Bab el-Mandeb threatens global trade

Iran has long dominated the Strait of Hormuz, and now the Houthis have gained control of the Bab el-Mandeb, a key chokepoint for global shipping. This dual control could disrupt energy and trade flows, raising concerns about supply chain security and potential inflationary pressures. The extent of Houthi control and the immediate impact on shipping remain uncertain.