> Will this bring oil prices down in Europe ... This will not help Asia
This hurts Europe more than Asia.
The UK, France, Italy, Netherlands, Denmark, and others are similarly opposed to the Houthis having conducted airstrikes on the Houthis (eg. 2025) as well as helping target them directly or indirectly.
And a large portion of global shipping is owned by Greek conglomerates - a country that is a close ally of Israel.
Most GCC states also have some form of defense agreement with the UK or France. If those turn out to be meaningless, it reduces their incentive to cut preferential deals with European states.
Additionally, this further enhances Turkiye and Pakistan's hand, as Saudi Arabia has signed defense pacts with both and Pakistan has threatened action against Iran yesterday if further incidents threaten Saudi Arabia. If they were able to dislodge the Houthis without direct European intervention, then it is a massive black stain on the EU's power projection capacity and it's claim that it should be treated as a great power. It also gives Turkiye additional leverage against the EU.
Finally, the Houthis struck the East-West Pipeline [0]. Much of the KSA's oil is in Eastern Saudi Arabia around Dhahran. Most large Asian states like China, India, Japan, and South Korea have continued operations in Iran that allowed them continued passage. European states lack access to GCC oil as a result of Perim island being controlled by the Houthis.
[0] - https://www.reuters.com/world/middle-east/yemens-houthis-rea...