It's been a week since Yemen's Iran-backed Houthi rebels stormed down the Red Sea coast, extending their reach to a key maritime chokepoint and threatening Saudi Arabia's oil exports.

The Houthis' biggest land grab in years reignited Yemen's 12-year civil war and pushed up global fuel prices. It also gave Iran another potential source of leverage as the United States has started to loosen Tehran's grip on the Strait of Hormuz, on the other side of the Arabian Peninsula.