First Hormuz, now the Red Sea? Oil spikes as Saudis sucked into Yemen spiral

First, there was US President Donald Trump’s surprise decision to strike Iran. Then, came the quagmire of a war without an exit strategy. Now, six months later, with access to the Strait of Hormuz all but shut, global shipping has taken another hit the other end of the Arabian Peninsula. Iran-backed Houthis are threatening access to the Red Sea.