Houthis Deny Bab al-Mandeb Closure, Say Blockade Targets Saudi Arabia Only

⚓ BLOCKADE — Saudi-only targeting, but the market already priced a full closure. 📌 LOOK CLOSER: Bab al-Mandeb full closure is a listed escalation trigger — the denial keeps oil below the next ceiling. But "Saudi-only" is unverifiable in real time: any vessel near a Saudi ship is exposed. Insurers won't reprice on a statement. The denial also narrows Washington's justification for widening strikes into Yemen — that may be its primary purpose.