Red Sea Shipping Shock: Yemen’s Iran-aligned Houthis captured Greater and Lesser Hanish islands, tightening control near Bab el-Mandeb and raising fresh risks for Red Sea trade and Saudi crude shipments. Saudi Energy Disruption: Saudi Arabia’s East-West pipeline was shut after drone attacks, with repairs expected to take 3–5 weeks, threatening a key export bypass to Yanbu and adding to global supply fears. Oil Prices Jump: Brent surged above $108–$110 as markets priced in longer disruptions across Hormuz and Bab el-Mandeb, pushing diesel to record highs and lifting bond yields. Regional Security Diplomacy: Saudi Crown Prince Mohammed bin Salman met U.S. CENTCOM chief Admiral Brad Cooper in Jeddah amid escalating Houthi pressure; Reuters also says Riyadh sought U.S. strikes but received intelligence support instead. Yemen Battlefield Fallout: Yemeni government forces said they are regrouping after setbacks around Mokha and Taiz, while displacement and fighting continue to escalate. Sanctions & Funding Network: Reporting highlights how the Houthis built a multibillion-dollar sanctions-evasion network tied to ports, trade routes, and finance—complicating U.S. efforts to cut support without harming civilians. International Reactions: China urged restraint and dialogue over attacks on civilian infrastructure and energy facilities, while Iran denied involvement in the pipeline strike and disputed U.S. claims.