The US war against Iran is expanding into a larger regional conflict. After Trump sabotaged a diplomatic agreement, Tehran closed the Strait of Hormuz. Now Yemen’s Ansar Allah (known commonly as the Houthis) has declared a naval blockade of Saudi Arabia, shutting down oil exports in the Red Sea. Ben Norton explains how this escalation could cause a severe crisis in the global oil market. Topics 0:00 Trump restarts war on Iran 1:26 Yemen joins the war 2:45 Red Sea blockade 3:28 Oil transit chokepoints 5:05 Saudi East-West Pipeline 5:55 China cuts oil imports 6:27 Saudi oil exports 6:59 Oil price skyrockets 7:55 Gasoline prices rise 9:17 Potential for oil crisis 10:31 Reserves running low 11:21 Yemen explainer 13:07 Ansar Allah (Houthis) 22:05 Axis of Resistance 23:58 Iran grows stronger 27:17 Outro || Geopolitical Economy Report || Please consider supporting us at https://geopoliticaleconomy.com/Support Subscribe to our newsletter: https://geopoliticaleconomy.report/ Join our community on Patreon: https://patreon.com/GeopoliticalEconomy

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