Houthi maritime embargo on Saudi Arabia creates global economic instability

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The Houthi announcement of a maritime embargo against Saudi Arabia, effective immediately, blocks 4.5 million barrels per day of oil transiting through the Bab Al-Mandab Strait, which is a 'worst-case scenario' for global economic stability. This move, coupled with the existing Strait of Hormuz blockade, significantly impacts Saudi Arabia's oil exports and the global oil market, threatening economies in Asia, Europe, and the US.