Iran War Threatens Oil Routes and Yemen's Stability

The war between the US and Iran spread beyond the Persian Gulf over the weekend. Although the United States launched no new attacks on Iran for the first time in two weeks, the conflict has extended to the Red Sea and the Caspian Sea.

Yemeni Houthis attacked facilities belonging to the Saudi Arabian oil giant Aramco off the Red Sea coast, with reports emerging of possible damage to fuel storage facilities.

Iran, meanwhile, accused Ukraine of attacking one of its merchant ships in the Caspian Sea, an incident in which one sailor was killed.

According to US media, President Donald Trump's administration has suspended further escalation of attacks due to concerns about the war spreading, the depletion of ammunition supplies and negative consequences for the global economy.

The situation in the Persian Gulf remained calm over the weekend, but fighting in Yemen suggests that Houthi involvement could reignite the country's civil war and threaten another key route for global oil supplies.

(Reuters)