Yemen Conflict Escalates as Houthis Seize Strategic Port, Threatening Red Sea Shipping and Fueling Oil Price Surge

The conflict in Yemen has entered a "new, more dangerous phase" with Houthi rebels seizing control of the strategic port city of Mocha, which lies near the vital Bab el-Mandeb strait. This development poses a significant threat to international shipping in the Red Sea and has contributed to a surge in global oil prices, with Brent crude futures hitting a four-month high. The UN Security Council held an emergency meeting to address the sharp escalation, which also includes Houthi attacks on Saudi Arabian oil facilities.