Summary:
A multilateral maritime force is taking significant steps to protect shipping from Houthis attacks in and around the Gulf of Aden and the Bab el Mandeb straits. The Houthis have asserted that they will not be deterred. Still, the efficacy of these attacks will likely diminish given the substantial naval coordination, which would, in turn, reduce their frequency. Still, this may take weeks or months, and crude oil prices will continue to find support in the meantime.
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