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Houthi Attacks Spark Global Trade Crisis | Philadelphia News
Houthi rebels strike two Saudi oil tankers in the Red Sea, igniting fears of global trade chaos as oil prices soar past $100 a barrel. The attacks—targeting vessels Encelia and Layla near the vital Bab el-Mandeb Strait—mark the first such assault since the Houthis declared a blockade on Saudi-linked shipping, escalating regional tensions. With 12% of global trade flowing through this chokepoint, any disruption sends shockwaves through Europe-Asia supply chains. President Trump vows “major military punishment” for Iran, blaming it for fueling Houthi aggression, while Iraq’s PM seeks diplomatic…
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