US-Iran Conflict and Red Sea Risks Push Oil Prices to Five-Week High

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Houthi Forces Announce Blockade on Saudi Arabia, Global Supply Chains Face Middle East “Double Lock” Dilemma

Yemen's Houthi forces announced an immediate maritime embargo on Saudi Arabia, citing a 'blockade for blockade' principle. As the U.S.–Iran conflict spills into the Red Sea, the move threatens to link the Bab el-Mandeb and Hormuz straits, raising fears of a global supply-chain 'double lock' and surging oil prices.