Day 29: Yemen Joins the Chat

Category: Geopolitical · Date: 2026-03-28

Houthis enter the war with ballistic missile strike on Israel (first since Oct 2025 ceasefire). Threaten Bab al-Mandab closure. The dual-chokepoint trap: Saudi Yanbu pipeline (only Hormuz bypass) exports via Red Sea through Bab al-Mandab. If Houthis close it, Saudi loses last oil export route. Iran strikes Prince Sultan Air Base (15 US wounded, KC-135s + AWACS damaged). Rubio at G-7: 'weeks, not months.' Brent $112.57 (+4.22%), WTI touches $100. VIX breaches 31. Gold rebounds +3.5%. Dual-chokepoint scenario rises to 22%. E[V] Brent $132.

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