March 26th, 2015
Episode 269 of 892 episodes
Renewed tension in the Middle East is taking its toll on the financial markets. Oil prices have been volatile, and shares lower, after a coalition led by Saudi Arabia launched air strikes in Yemen against Shia Houthi rebels. Saudi Arabia says its air strikes have destroyed the Houthi combat and control centre in the Yemeni capital, Sana'a. Sunni-ruled Saudi Arabia accuses Iran, which is overwhelmingly Shia, of backing the rebels in their efforts to overthrow the Yemeni government. Mike Johnson asked Cary Leahy of Decision Economics about the effect on the markets. But first, Kate Dourian, senior editor at the Middle East Economic Survey in Dubai - how big a threat did she think the conflict was to international oil supplies?