A Gulf-Yemen energy corridor could reshape the Arabian Peninsula. But it cannot happen without a durable political settlement involving the Houthis and other Yemeni factions. General view of the downtown port city of Mukalla in Hadramout, Yemen, January 20. (REUTERS/Hamad I Mohammed) The U.S.-Israeli war with Iran and the disruption of shipping through the Strait of Hormuz have exposed one of the Gulf’s deepest strategic vulnerabilities.