BREAKING: Yemen's Houthi Group, an Iranian ally, says it is "ready to intervene" in the Iran War if new allies join the US and Israel or if the Red Sea is used to launch attacks on Iran. The Houthis have strong influence over the Bab al-Mandab Strait which controls over ~6 million barrels of daily oil supply. Total offline capacity between the Strait of Hormuz and al-Mandab would near 25 million barrels per day, or ~25% of global supply, if Bab al-Mandab is closed.(The Kobeissi Letter)