Oil, Yields, and a War That Won’t Stay Contained. And Breadth Stinks!

Escalation is the name of the game in the Middle East, and it’s not just Iran and the U.S., but increasingly Yemen’s Houthi rebels and Saudi Arabia scarpping. In early August, Saudi Arabia, Pakistan and Turkey signed the Mecca Joint Defence Agreement, which is essentially their version of NATO’s article 5. After the biggest Houthi…