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Iran finds escalation fruitful in US war
The gist
Iran and its allies now hold sway over two key Middle East oil shipping routes.
The squeeze on oil exports is raising energy prices and testing Iran's neighbors.
How it unfolded
- Sep 11, 2026The Iranian-allied Houthis of Yemen captured a Red Sea island, giving them a perch to disrupt shipping in another critical waterway for exporting Middle East oil.
- Sep 12, 2026The SITREP Index eased to 56 (Elevated, De-escalating, -2 vs yesterday), with Yemen showing the sharpest shift as coverage fell 7 day over day; markets stayed calm and volatility dropped 4.74%.
- Sep 12, 2026At an India summit, BRICS leaders voiced concern over the Middle East and condemned unilateral sanctions.