The Houthi threat to Saudi oil exports comes as Japan, South Korea and the Philippines are still reeling from the closure of the strait of Hormuz
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As conflict in the Middle East sends shockwaves through global energy markets, governments are rushing to deploy strategic oil reserves to prevent economic turmoil, soaring inflation and supply collapse. Emergency stockpiles have become the world’s last line of defence against a new era of energy insecurity. John Muchira reports