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International Business Times UK
International Business Times UK
World
Bernadette B. Tixon

Houthi Entry Into Iran-Israel War Stokes Fresh Alarm Over Red Sea Trade Routes and Global Oil Prices

Global trade on edge as Houthis threaten Red Sea vessels after Israel strike. (Credit: Henry Ridgwell VOA/WikiMedia Commons)

Iran-backed Houthi rebels entered the ongoing war between the United States, Israel and Iran — now in its second month — on Saturday, firing what they described as a barrage of ballistic missiles at 'sensitive Israeli military sites' in southern Israel, their first strikes since the conflict erupted. The Israeli military said it intercepted a missile fired from Yemen, with air raid sirens triggered around Beersheba and the area near Israel's main nuclear research centre.

The development, which had been anticipated after Houthi Brig Gen Yahya Saree issued a warning the previous day, has sent a fresh wave of alarm through global markets. Analysts and shipping experts fear the rebels may now revive their campaign against commercial vessels in the Red Sea — a move that would compound an already severe disruption to international trade caused by Iran's stranglehold over the Strait of Hormuz.

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