By Claudia Assis and Myra P. Saefong
Oil futures surge as Houthi threat to Saudi port endangers crucial Red Sea workaround
Fighters loyal to the Aden-based internationally recognised Yemeni government gathering along the Red Sea shore on Monday. Houthi threats in the area have escalated.
Iran-backed Houthis are threatening to choke more oil out of the Middle East, compounding worries about global crude supplies as the U.S. and Iran traded fresh strikes.
The threats escalated on Tuesday, with the Yemeni group, which controls part of the civil-war-ravaged country, warning shipping companies to avoid all Saudi Arabian ports, according to multiple reports on Tuesday.
