The conflict in the Middle East has intensified with Iran-backed Houthis from Yemen launching missile attacks on Israel, marking their official entry into the Iran war. This escalation raises fears of disrupted shipping routes in the Red Sea, as Houthi forces have threatened further action if certain red lines are crossed. The renewed violence has led to a surge in oil prices, with Brent crude heading for a record monthly increase, as markets react to the growing instability. Meanwhile, U.S. military forces have been deployed to the region, signaling the potential for a broader conflict.