“The world’s most valuable energy corridors are pinching shut,” the New York Times reports.“On Friday, Houthi militants backed by Iran expanded their control of the Red Sea, threatening a critical route for Persian Gulf crude. That left the region with few alternatives, since shipping traffic through the Strait of Hormuz — once the world’s primary oil transit point — remains significantly constrained and far below what it was before the war.”“And oil exports from Saudi Arabia, long the most important producer in the Middle East, plunged last month to their lowest point in at least 13 years.”