What the Houthi blockade on Saudi Arabia means for global oil supplies

The price of oil could spike further if Yemen's Houthi rebels succeed in their blockade of Saudi Arabia. The conflict between the Houthis and the Saudis has flared up again in the last week. It threatens to disrupt shipping in the Red Sea, through which the Saudis have been exporting millions of barrels of oil, while the Strait of Hormuz, on the other side of the Arabian Peninsula is also blocked.