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

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To watch this content, you may need to disable it on this site. Cover image: Egyptian President Abdel Fattah al-Sisi meets Saudi Crown Prince Mohammed bin Salman in Cairo, Egypt, September 15, 2026. © Bandar Algaloud/Courtesy of Saud, First, there was 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 Gulf all but shut… global shipping holding its breath over the other end of the Arabian Peninsula. Saudi Arabia drawn back into Yemen as Iran-backed Houthis threaten access to the Red Sea. And whereras Washington jumped at Israel’s request to take out the Supreme Leader, Donald Trump’s reluctant to go all in for his other great ally in the region.

We’ll ask why it’s suddenly escalated between the Saudis and the Houthis, what to make of an Iraqi Shia militia hitting the kingdom’s main East-West pipeline and the consequences for a planet left wondering what and who can ease our newfound energy insecurity and a Gulf region craving for the stability of old. _Produced by François Picard, Antonia Cimini, Juliette Laffont, Ilayda Habip, Charles Wente._ First Hormuz, now the Red Sea? Oil spikes as Saudis sucked into Yemen spiral 9/11 then and now: Do September 2001 attacks still shape our world? Europe scrambles as US rules satellite race Missiles or mediation?

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