
Iran's Ace in the Hole: The Houthi Card That Could Seal the Last Exit for Middle Eastern Oil
Iran closed the front door at Hormuz. The back door — Saudi Arabia's Yanbu pipeline to the Red Sea — runs directly past Yemen's Houthi-controlled coastline. If Tehran makes one phone call to Sanaa, both chokepoints close and there is no way to get Middle Eastern oil to anyone, anywhere, by sea.

