MENA Update: Iran Steps Up Attacks on Shipping; Houthi Conflict Escalates

Summary

Iranian attacks are turning the Strait of Hormuz into a near-daily flashpoint, compressing crude flows while Saudi Arabia opens a new offensive against the Houthis. Aurora assesses Tehran’s targeting logic, the remaining cushion through Hormuz and alternative ports, and the risk that Red Sea retaliation widens across the Gulf.

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