Yemen's Houthis have declared a naval blockade on Saudi Arabia after striking oil facilities in the Red Sea, threatening one of the world's most vital maritime routes.
The Bab al-Mandab Strait handles roughly 12 percent of global container traffic and around two-thirds of Saudi Arabia's daily oil exports.
Disruption could force vessels to reroute around Africa, adding 10 to 14 days and an estimated $2.5m per trip, with knock-on effects for global energy prices.
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