Asia ‘scraping the bottom of the barrel’ as Red Sea oil blockade worsens energy crisis

Asia faces a worsening energy crisis as Yemen’s Houthis block Saudi Arabian shipping through the Bab al-Mandab strait, forcing countries like Japan, South Korea, and the Philippines to secure alternative oil supplies. The blockade, part of a second major energy disruption in six months, has left the Suez Canal as the only fully open route for Gulf oil exports.