The U.N. envoy for Yemen has warned that recent developments in the Red Sea, Israel and inside the country "show the real danger of a devastating region-wide escalation" — but he also pointed to a glimmer of hope.

Hans Grundberg said that Yemen's warring parties — the internationally recognized government and Houthi rebels – informed him Monday night "that they have agreed on a path to de-escalate a cycle of measures and countermeasures which had sought to tighten their grip on the banking and transport sectors."