Red Sea Energy Shock: Yemen’s Houthis escalated attacks on Saudi Arabia, hitting the Khamis Mushait airbase and worsening pressure on Saudi oil exports as the East-West pipeline to Yanbu stays offline after a drone strike; officials say repairs could take 3–5 weeks, with partial restart possible, while traders warn the outage could remove up to ~4% of global supply and keep crude above $100. Shipping & Chokepoints: With Bab al-Mandeb under Houthi pressure and Strait of Hormuz traffic dwindling, oil tanker rates and freight costs are rising, and regional talks on Hormuz were postponed again. Human Rights: Human Rights Watch said Houthi attacks on commercial vessels in the Red Sea and Gulf of Aden likely amount to war crimes in multiple cases, putting civilian crews at deadly risk. Regional Security Politics: Pakistan’s defense minister warned that continued Yemeni attacks on Saudi could trigger the Mecca Joint Defense Agreement, treating aggression against any signatory as aggression against all. Local Industry Impact: Fuel supply risks are rising in some markets, but the bigger near-term issue is price—supply lines are moving, just slower and more expensive. Diplomacy & De-escalation: China urged restraint and political dialogue as civilian infrastructure and energy assets face repeated strikes.