There's a disturbing lack of clarity in the rationale for the war; it looks more like a war of choice than necessity.

The energy markets are particularly significant given the region's crucial role in oil and gas.

If this lasts for weeks or months, it will have enormous reverberations across global energy and shipping markets.

If the Houthis restart attacks on shipping in the Red Sea, the disruptions we're already watching could grow exponentially with an enormous global impact.