Red Sea Shipping Shock: Yemen’s transport minister says Saudi strikes and follow-on restrictions have crippled Hodeidah Port and raised costs for goods stuck in Djibouti, with war-risk insurance on a container reaching $12,000. Chokepoint Watch (Bab el-Mandeb): Energy analysts warn the Bab el-Mandeb pinch point—between Yemen and Djibouti—could worsen supply disruptions if Houthi threats turn into a real blockade, adding pressure on oil prices and shipping insurance. Horn of Africa Security: The White House is stepping up talks with Somalia and Eritrea to protect Red Sea access, as rerouting around southern Africa adds days and costs for trade. Djibouti Port Development: Tiryaki Agro and the Djibouti Ports and Free Zones Authority signed an MoU to assess upgrading and expanding Tadjourah Port for agricultural and bulk commodities, with a possible long-term concession next. Military Posture in the Region: Germany is pulling two vessels from Djibouti/Red Sea to the eastern Mediterranean, citing uncertainty over any near-term Strait of Hormuz mission. Energy Prices at the Pump: A brief pause in US-Iran attacks helped push gasoline slightly down in Michigan, but analysts warn prices likely stay elevated.