Skip to content
Search

Latest Stories

What We're Watching

The Houthis jump in

Houthi fighters gather during a military manoeuvre near Sanaa, Yemen, October 30, 2023.

Houthi fighters gather during a military manoeuvre near Sanaa, Yemen, October 30, 2023.

Houthi Media Center/Handout via REUTERS

Is the Gaza war spreading? The Houthi rebels in Yemen declared war on Israel this week, driving home the point by lobbing a number of cruise missiles 1,000 miles north toward Tel Aviv.


Who are the Houthis? An Iran-backed rebel group that has taken over most of Yemen in a decade-long civil war against a Saudi-led coalition. In recent months, peace talks have advanced, but an agreement remains elusive.

Why did they jump in? Tehran, the main patron of the Houthis, has long used regional proxies to advance its aims without getting drawn directly into conflicts. But while Iran may have given “a nudge,” says Gregory Brew, an Iran expert at Eurasia Group, “the Houthis are doing this because the Houthis want to.”

Entering the war burnishes their bona fides as part of the broader Iran-led anti-Israel axis, he says, while also potentially signaling to the Saudis the urgency of reaching a peace deal in Yemen before a wider regional war erupts around Gaza.

Can the Houthis really hurt Israel? While they’re well-armed with cruise missiles and drones, they lack the accuracy to inflict sustained damage on Israel, particularly given the presence of US and Israeli missile defense systems in the region.

Still, the Houthis can certainly threaten or harass boat traffic through both the Suez Canal and the Strait of Hormuz, two of the world’s most critical trade and energy routes.

And that combination of high firepower and low accuracy may itself be the biggest risk, says Brew. “If one of these missiles gets through and does serious damage,” he warns, “then you have the possibility of the conflict expanding fast.”

More For You

​The Thailand-flagged cargo ship Mayuree Naree engulfed in black smoke in the Strait of Hormuz, March 11, 2026.

The Thailand-flagged cargo ship Mayuree Naree engulfed in black smoke in the Strait of Hormuz, March 11, 2026.

ROYAL THAI NAVY/Handout via REUTERS
US and allies desperately try to cool frightened oil marketsIran has been upping its threats against the world’s oil supply, striking at least one cargo ship yesterday and reportedly laying mines in the Strait of Hormuz, the waterway near Iran through which 20% of global oil supply passes. Its military command even suggested that the world should [...]
Sanae Takaichi announces running for presidential election of the LDP

Sanae Takaichi announces running for presidential election of the LDP

Aflo via Reuters
Japan strikes rare earths deal with largest non-Chinese producerAustralian mining giant Lynas will sell rare earths to Japan for 12 years in a major pact meant to chip away at China’s dominance of the global market. The highlight of the deal is that it sets a minimum price of $110 per kilogram of the minerals. That is the same “price floor” that [...]
Pirhossein Kolivand, head of the Iranian Red Crescent Society, stands in front of the Shahran oil depot, which was targeted by US-Israeli strikes, in western Tehran, Iran, on March 8, 2026.

Pirhossein Kolivand, head of the Iranian Red Crescent Society, stands in front of the Shahran oil depot, which was targeted by US-Israeli strikes, on the eighth day of the war in western Tehran, Iran, on March 8, 2026.

Sobhan Farajvan/Pacific Press/Sipa USA
Depot bombing, Strait of Hormuz constraints send oil prices surgingOil prices skyrocketed above $100 per barrel on Monday – nearly hitting $120 at one point – after Israel bombed fuel depots outside Iran’s capital of Tehran and data showed oil production along the Persian Gulf tanking due to the near-closure of the Strait of Hormuz. US President [...]
Cargo ships are unloading newly arrived chemical fertilizers at the port terminal in Lianyungang, East China's Jiangsu province, on February 27, 2024. ​

Cargo ships are unloading newly arrived chemical fertilizers at the port terminal in Lianyungang, East China's Jiangsu province, on February 27, 2024.

(Photo by Costfoto/NurPhoto)
Iran conflict could trigger a food crisisDisruptions to a key Gulf waterway in the Iran conflict aren't just threatening the world’s oil and gas supplies; they could also cause a food security crisis. Roughly a quarter to a third of global raw materials used in fertilizer pass through the Strait of Hormuz. With tanker traffic in the strait largely [...]