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As the US-Israeli war on Iran enters its second month, another major shipping lane is at risk of closure but the chances of a prolonged conflict remain slim, according to Chinese analysts.
The assessment came on Saturday as Iran-backed Houthi rebels joined the fray by firing missiles at Israel from Yemen. The Israeli military said it intercepted one of the projectiles.
Chinese state news agency Xinhua quoted a Houthi source as saying the missile attack was meant “as a warning”.
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The Houthis operate in the northern part of the Bab el-Mandeb Strait, a key part of the shortest sea route for Eurasian commodity and energy trade.
The rebels have previously attacked merchant ships in the Red Sea and analysts said that obstruction of this route could lead to another rise in oil prices, which have already soared above US$100 a barrel.
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Jodie Wen, a scholar from the Centre for International Security and Strategy (CISS) at Tsinghua University, said that blocking the strait would have dire consequences for the world economy.
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