Is the Red Sea turning into a Houthi stronghold?
I wouldn't say that the Houthis are significantly degraded in their military capabilities by the United States and the UK over the last month now. They are not getting the same level of support, intelligence wise, from the Iranians that they were in previous months. So they are still getting the weapons. Some of those weapons are getting interdicted by the United States and allies. But they are still engaging in strikes in the Red Sea. And that, of course, is making it harder for ships to get through. And it's increasing costs on commodities and it's disrupting supply chains. That's where we are. That's likely to continue. But again, I wouldn't call it a stronghold. The one country that's really hurt in all of this is Sudan, which is experiencing the worst humanitarian crisis in the world right now. And it's made worse by the fact that you can't get any aid through the Red Sea because the Houthis are blocking it.
As the Israel-Hamas war nears the five-month mark, is a cease-fire likely?
Well, Hamas is demanding a permanent cease-fire as part of the terms of getting an agreement with Israel that is absolutely not on the table. Can we get a short-term cease-fire, a six-week cease-fire? I am still optimistic, but I'm telling you, it is getting more challenging. And if Netanyahu is really angry at Benny Gantz for being more solicitous with the Americans and the Brits, and traveling to those countries to engage in diplomacy when Netanyahu told him not to go and when he told the Israeli embassy in those countries not to support him, the potential that you end up not getting a deal because of the Israeli dysfunction in their governance and Hamas continuing to kick the can and put ideas on the table that are absolutely unacceptable to the Israelis, that makes it harder. So I do think that the potential is all falls apart, is creeping up. But if you make me bet by next week, I still think on balance we get a deal. Anyway, let's be hopeful for that.
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