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Iranian-backed Houthi rebels entered the month-old war in the Middle East on Saturday by claiming a missile launch that Israel said it intercepted. Pakistan said regional powers plan to meet Sunday on how to end the war, while Iran expressed scepticism about the diplomatic efforts.
The war has threatened global supplies of oil, natural gas and fertilizer and disrupted air travel. Iran’s grip on the strategic Strait of Hormuz has shaken markets and prices. The United States and Israel continue to strike Iran, whose retaliatory attacks have targeted Israel and neighboring Gulf Arab states.
The Houthis’ entry could further hurt global shipping if they again target vessels in the Bab el-Mandeb Strait off the Red Sea, through which about 12% of the world’s trade typically passes.
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