In Yemen, Houthi leaders have declared a naval blockade against Saudi Arabia, opening a new front in the conflict embroiling the Middle East. The announcement sent shock waves through global energy markets that were already rattled from renewed U.S. attacks on Iran and the closure of the Strait of Hormuz. Experts warn a closure of the Bab el-Mandeb Strait near Houthi-controlled territory at the mouth of the Red Sea could halt Saudi oil exports to Asia while slashing global oil supply by some 7%. On Monday, thousands of Houthi supporters rallied in Sana’a in support of the blockade.

Houthi supporter: “The decision is wise in response to the Saudi aggression and its blockade. They have blockaded us for 12 years. So we say to them: a blockade for blockade, airports for airports and ports for ports.”