What happens now that Houthis have joined the war in Iran? Here’s what we know

(ASSOCIATED PRESS) — Yemen’s Iran-backed Houthi rebels said they attacked two Saudi oil tankers in the Red Sea on Thursday, potentially widening the Iran war as international oil topped $100 a barrel. The Houthis have threatened to shut down another key trade route, with the world economy already reeling from Iran’s closure of the Strait of Hormuz. Iran and the U.S. have meanwhile stepped up their attacks as they vie for control of the strait, through which a fifth of the world’s oil and gas transited in peacetime, setting off a scramble for alternative routes. As the U.S. carried out a 12th night of strikes across Iran, President Donald Trump threatened “major military punishment” against the Houthis if their attacks on ships continue. “If they do this again, the U.S. will hold Iran responsible, in that the Houthis are a Surrogate and/or Proxy of Iran, and major military punishment will be inflicted upon Iran and, of course, the Houthis, themselves,” Trump wrote on social media. As the rhetoric escalated, so did the economic fallout. The price of Brent crude oil, the international standard, spiked more than 6% Thursday, to about $100 a barrel. That is the highest level since May, before the two sides reached a preliminary peace agreement last month that has since collapsed. Prime Minister Ali al-Zaidi of Iraq, which has close ties to both the U.S. and Iran, was in Tehran on Thursday to call for peace and dialogue, and he promised not to allow Iraqi territory to be used for attacks on Iran, his office said. Al-Zaidi met with Trump earlier this month in Washington. An Arab diplomat said Gulf states are increasingly pessimistic about finding an off-ramp. The diplomat, speaking on condition of anonymity due to the sensitivity of the situation, said regional countries like Pakistan and Turkey continue to push for de-escalation.