Skip to content
You can now search across every topic, entity and event.What's new
European Energy Markets
3AUG

Houthis fire second barrage at Israel

2 min read
10:53UTC

The second Houthi missile and drone attack on Israel in a single day confirms staged escalation, with Bab al-Mandeb closure declared openly as the next step.

EconomicDeveloping
Key takeaway

A second Houthi barrage in 24 hours confirms Iran's proxy network is activating in sequence.

The Houthis (Ansar Allah) fired their second missile and drone barrage at Israel on 29 March, following their first attack the previous day . Israeli military claimed interceptions; targets included what the Houthis described as "sensitive military sites" in southern Israel 1. Deputy information minister Mohammed Mansour has explicitly threatened Bab al-Mandeb closure as part of a staged escalation programme.

Tehran coordinated the timing. Houthi entry came the day after Pakistan confirmed US-Iran indirect talks had stalled and the day Iran published its five conditions . Two attacks in 24 hours is a demonstration of sustainable tempo, not a one-off provocation. The Long War Journal reports that Houthi leaders have conditioned further escalation on whether other nations join anti-Iran operations or use the Red Sea for strikes against Iran's allies.

The strategic problem is compounding. Hezbollah fired 600 projectiles at Israel on 28 March . The Houthis are now adding a second axis. Iran's proxy network is activating in sequence, each front requiring separate defensive resources from a coalition already stretched by the primary conflict.

Deep Analysis

In plain English

Yemen's Houthi movement, which controls most of northern Yemen including the Red Sea coast, is an Iranian-aligned armed group. On 28 March it fired its first missiles at Israel. Within 24 hours it fired a second wave. This matters because the Houthis also control the Bab al-Mandeb strait, the other end of the Red Sea from Hormuz. They have now explicitly threatened to close it. The situation in brief: Iran controls one end of the Gulf-to-Red Sea shipping corridor through Hormuz. Its Houthi allies may be about to close the other end at Bab al-Mandeb.

Deep Analysis
Root Causes

The Houthi activation followed Pakistan's confirmation that indirect US-Iran talks had stalled. Tehran appears to have calibrated proxy activation against the diplomacy clock: when talks collapsed, the proxy network activated. This suggests a deliberate coercive strategy rather than autonomous Houthi decision-making.

The Houthis have their own motivations that partially overlap with Tehran's. Bab al-Mandeb closure would be the single largest expression of Houthi strategic power and a recruiting and fundraising windfall domestically in Yemen.

First Reported In

Update #51 · Iran hits aluminium plants; Hormuz emptying

International Maritime Organisation / UKMTO· 29 Mar 2026
Read original
Different Perspectives
Cross-border power traders
Cross-border power traders
The France-Germany day-ahead spread flipped from a EUR 17.20 German premium on 1 August to a EUR 4.15 French premium on 3 August, the same day French curtailment peaked. They cannot yet attribute the flip to curtailment alone, since a like-for-like overnight comparison shows French nuclear output rising while wind fell and demand returned on the weekday step.
EDF
EDF
River-cooling limits took 7.6 GW, 12 per cent of its fleet, offline on 3 August, the highest curtailment since the heatwave began, with an easing forecast to 4.3 GW on 4 August and 3 GW after. It manages the cut as a recurring seasonal constraint, expecting it to lift with river temperature, not repair.
Gasunie
Gasunie
TTF, the Dutch hub it operates, drifted to roughly EUR 55 to 58 per MWh across the window, staying inside its recent range through both the German spark reversal and the French curtailment. It reads a flat hub price as evidence that neither event this window carried enough weight to move the fuel leg on its own.
German gas-fired generators
German gas-fired generators
Record German solar of 18,761 MW on 2 August pushed the clean spark spread to minus 18.48 EUR/MWh, a loss-making day, before it returned to plus 16.20 on 3 August. They now price dispatch against post-solar residual load rather than wind alone, since the sign flipped inside 48 hours on unchanged fuel and carbon costs.
European Commission (DG Energy)
European Commission (DG Energy)
Its implementing-measures register logged transposition notices from only Portugal and Slovakia against Wednesday's Article 94 deadline for Directive (EU) 2024/1788, with 25 states silent. It expects the register to fill only gradually, since filing routinely lags legislating and any infringement track against non-notifying states runs on a slower clock than the deadline itself.
Spain's LNG terminal operators
Spain's LNG terminal operators
Spain's 9,145 GWh terminal inventory is the largest single stock in the EU LNG network, an option value that can reroute cargoes wherever the winter strip pays best rather than a cavern gas obligation tied to a fixed date. That flexibility matters more as Germany's cavern shortfall pushes more of the winter security question onto import infrastructure.