Asia faces second energy crisis as Red Sea oil blockade worsens

Houthi forces are threatening Saudi oil exports through the Red Sea, leaving Asian economies scrambling for supply as the Strait of Hormuz only recently reopened. Yemen's internationally recognised government warns the Houthis are deliberately mirroring Iran's chokepoint strategy to gain leverage over global energy flows. Japan, South Korea, and the Philippines — which collectively depend on Middle East oil for up to 90% of their supply — are bearing the brunt.