War With Iran:

Iran Keeps Strait Shut

Balance of Power

Iran Looks to Houthis to Tip Scales in Red Sea

Militants entering the conflict carries risks of US or Israeli retaliation.

Houthi security officers watch a supporters’ rally in solidarity with Iran and Lebanon in Yemen’s capital, Sanaa, on March 27. — Houthi security officers watch a supporters’ rally in solidarity with Iran and Lebanon in Yemen’s capital, Sanaa, on March 27.Photographer: Mohammed Huwais/AFP/Getty Images

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March 31, 2026 at 9:59 AM UTC

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As the Middle East conflict roils the global economy, Yemen’s Houthi militants are adding another level of risk.