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Yemen’s Houthis said on Monday that they would ban ships linked to Israel from the Red Sea after Israel renewed its military attacks on Iran, adding to concerns about global shipping and energy flows.
This is why it matters and what it means for the Iran war and the global energy crisis:
Iran’s closure of the Strait of Hormuz since Israel and the United States attacked it on February 28 has disrupted most oil and other energy exports from the Gulf, raising prices and causing a major energy shock.
Saudi Arabia has responded by diverting more than 70 per cent of its normal daily crude exports to the Red Sea port of Yanbu.
