The Red Sea crisis is escalating. Houthi forces reportedly launched two ballistic missiles at Yemen's Mokha port, striking a commercial vessel and killing three Pakistani nationals. Pakistan has strongly condemned the attack, calling it a violation of international law and a threat to global maritime security.
The conflict is also shaking global energy markets. The International Energy Agency (IEA) has cut its global oil supply forecast, warning that disruptions in the Strait of Hormuz and Bab al-Mandeb could deepen the oil deficit. Meanwhile, the U.S. Energy Information Administration (EIA) has raised its Brent and WTI crude oil price forecasts as shipping restrictions continue.
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