Asia faces second energy crisis as Houthi Red Sea blockade compounds oil supply squeeze

Potential business closures and economic defaults in Asia could impact employment and livelihoods; energy rationing measures like four-day work weeks already imposed in some countries.

For the second time in six months, Asia finds itself at the mercy of a chokepoint it cannot control. Yemen's Houthi movement has blockaded the Bab al-Mandab strait, severing a lifeline that Saudi Arabia had only recently opened as an alternative to the closed Strait of Hormuz — leaving nations like Japan, South Korea, and the Philippines, which draw up to ninety percent of their oil from the Middle East, with nowhere easy to turn. The crisis lays bare a structural vulnerability that prosperity had long allowed policymakers to defer: the fragility of an energy order built on a handful of narrow

Asia faces second energy crisis as Houthi Red Sea blockade compounds oil supply squeeze

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