The situation in the Red Sea is intensifying as Iranian officials reportedly exert pressure on the Yemen-based Houthi movement to prepare for renewed military actions against maritime traffic in the region. According to European officials familiar with the developments, such a campaign would likely disrupt global energy markets further, particularly if the Houthis respond aggressively to any escalation in hostilities involving the United States and its allies. The Houthis, who receive substantial backing from Iran, have already been involved in launching ballistic missiles against Israel. European sources indicate that the group's leadership is currently deliberating how far to escalate their... [Continue Reading]