The conflict between Iran and the US-Israel coalition has reached a critical juncture where the global economy is at risk, particularly with reports of the Strait of Hormuz already facing closures. The Houthi rebels in Yemen, allegedly supported by Iran, have now threatened to block the Bab al-Mandeb Strait as a response to their growing involvement in the conflict. This escalation highlights the seriousness of the situation and the potential impact on worldwide oil and gas supplies.

As the conflict enters its third week, Houthi leaders have stated they are prepared for retaliatory actions, indicating their readiness to engage should the situation worsen. Experts suggest that this is part of a three-phase strategy employed by Iran, which initially involves blocking the Strait of Hormuz, a stage that has already begun, followed by distracting Israel through fronts in Lebanon and Gaza, and culminating in the Houthi closure of Bab al-Mandeb.

The Bab al-Mandeb Strait is crucial for maritime trade and energy supplies, linking the Red Sea to the Gulf of Aden and beyond. If this strategic passage is closed, it could lead to severe ramifications for the global economy, potentially plunging Europe into an oil and gas crisis, previously considered unlikely. Hence, the developments in this conflict require close monitoring due to their far-reaching implications for international energy markets and geopolitical stability.