The Houthi terrorist proxies of Iran are determined to destroy themselves along with the rest of Yemen. They’re now blocking the very narrow Bab al-Mandab Strait, which empties into the Indian Ocean and connects at the other end to Egypt and the Mediterranean via the Suez Canal. This is a major waterway for global trade.
They’re doing this, of course, under the orders of their Iranian masters when what they should be doing is packing up and moving out of the line of fire, because the Yemenis will go after them even if no one else will, and everyone will. This is because Yemen imports almost all of their food and now the primary method of its delivery has been blocked by their own people.
Now both of the Middle East straits are blocked to traffic. Blocking Suez Canal traffic will possibly do more harm to the global economy than the blocking of the Strait of Hormuz is doing and has already done, as the Suez Canal is the world’s trade artery. The primary energy and fertilizer artery is blocked and now the primary goods artery is. If you think inflation is already bad, you think right, only it’s about to get a lot worse. This is going to increase scarcity of market goods and you know what that means.