Live Updates: Diesel hits record $6 a gallon as, reports say, Iran-backed Houthis take key Red Sea territory
• Iran-backed Houthi rebels captured the city of Mokha, a key location overlooking tanker routes in the Red Sea. • The seizure allows rebels to more easily target ships transiting the Bab el-Mandeb Strait, a critical corridor for Saudi Arabian oil exports. • Diesel prices have hit a record $6 a gallon as the move threatens to drive up global oil and gas prices to pressure the United States.
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