Tensions Rise in Gulf as Yemen Tries to Take Back Land

That's the tug of war right now in the oil market. Let's talk about the situation under surveillance this morning, ready for anything in Iran. The president has has taken a strong stand that Iran cannot and will not have nuclear weapons. So, of course, we're looking at every avenue to achieve that goal economically, to be prepared for what comes militarily. He's always planning for contingencies, and he's always negotiating. So here's the latest this morning. The Trump administration preparing for the potential resumption of military action in The Middle East. The Saudi led forces in Yemen launch a full scale offensive to take back territory captured by the Iranian backed Houthis. Bloomberg's Tyler Kendall with the job putting it all together joins us now for more. Morning, Tyler. Hey, John. Good morning. Well, this marks a major new operation against the Iranian backed Houthis and does threaten to escalate fighting in the broader conflict in The Middle East. One of the key objectives here is to retake control of shipping lanes in the Red Sea and the Bab El Mandab Strait as the attacks do still continue. The Houthis over the weekend did claim responsibility when it comes to drone and missile strikes against a Saudi Aramco facility in Riyadh. And new this morning, we actually heard from the Saudi Aramco CEO saying that stockpiles that cushion the world from supply shocks have become, quote, scarily thin. Still, we do have new reporting per people familiar with the matter that the East West pipeline is operating right now at a normal pace. Another goal here is to retake Yemen's capital, which has actually been under Houthi control for several years. This does mark the second time since 2015 that the Yemeni government has asked for Saudi support in combating the Houthis, and the Saudi government is asking for support as well. Though senior officials tell us that The US is not planning to get directly involved in this military campaign, they will supply intelligence and targeting sourcing to the tune of 200 US military analysts currently stationed in Saudi Arabia according to the New York Times. But, John, it does underscore the tension here from the administration that on one hand wants to help an ally, but on the other, doesn't wanna distract from the ongoing conflict in Iran as that continues to drag on as we get closer to the midterms. You heard The US energy secretary there. We should mention that senior cabinet officials did convene at Camp David on Friday to weigh their next steps. Tyler Kendall with the latest. Tyler, thank you. More from Tyler throughout this morning.