Description:
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.
Timeline:
00:00 Trump restarts Iran war
01:26 Yemen joins the war
02:45 Red Sea blockade
03:28 Oil transit chokepoints
05:05 Saudi East-West Pipeline
05:55 China cuts oil imports
06:27 Saudi oil exports
06:59 Oil price skyrockets
07:55 Gasoline prices rise
09:17 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