Why Does Yemen Matter to the World’s Oil Market?... Are oil prices likely to continue rising?

An article from the Wall Street Journal which asks (then answers): Why Does Yemen Matter to the World's Oil Market?

For example:

Why is Yemen important to the world oil market?

• Yemen is only a small oil producer, but it lies at the heart of some of the most important energy routes.

Much more at the link (not gated!)

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And ... cutting to the chase ... Are oil prices likely to continue rising on Yemen?

The threat of a wider regional conflict is roiling markets, but whether the oil price rally lasts depends on how Iran reacts to Saudi Arabia, a Sunni Muslim country, bombing a Shiite Muslim tribe in Yemen. "We are witnessing the return of a geopolitical premium. Unless Iran reacts in a bellicose fashion, this premium will be short lived and presents a selling opportunity," said oil broker PVM in a note to clients. "Fundamentals have not changed, worry has but it can evaporate quickly," it added.