Business Standard
Iranian-backed Houthi rebels entered the month-old war in the Middle East on Saturday, claiming two missile launches at Israel. About 2,500 US Marines arrived in the region. And Pakistan's government said that regional powers plan to meet Sunday to discuss how to end the fighting. The war has threatened global supplies of oil and natural gas, sparked fertilizer shortages 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 neighbouring Gulf Arab states. More than 3,000 people have been killed. 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 per cent of the world's trade typically passes. There could be limited relief after Iran on Friday agreed to allow humanitarian aid and agricultural shipments through the Strait of Hormuz ..
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