Houthi Ship Seizure Threatens Oil Market Stability

The Iran-aligned Houthi rebels of Yemen have seized a cargo ship linked to an Israeli company in the Red Sea in the latest flare-up in the Middle East that could roil the oil market ahead of the OPEC+ meeting next weekend. Houthi spokesperson Yahya Saree said in a statement that the rebels “carried out a military operation in the Red Sea, the results of which were the seizure of an Israeli ship and taking it to the Yemeni coast,” The Times of Israel reported. The vessel, Galaxy Leader, is owned by a company registered under Isle of…