Oil Extends Gains Following Houthi Strikes on Saudi Arabia
The seizures give the Houthis more leverage over Red Sea shipping routes as Saudi Arabia faces new attacks on energy infrastructure.
- On Tuesday, Houthi forces captured the islands of Greater and Lesser Hanish, 100 miles north of the Bab al-Mandab Strait, expanding their control over critical Red Sea shipping lanes.
- Threats intensified after militants damaged the 745-mile Saudi East-West Pipeline, prompting Riyadh to close the critical conduit that bypasses the blockaded Persian Gulf.
- Escalating conflict triggered a humanitarian surge, with more than 85,000 displaced inside Yemen since July; a Houthi projectile wounded two people in the Saudi port city of Jazan on Monday.
- President Donald Trump said Sunday the Houthis "don't want to fight with us," signaling diplomatic preference despite Saudi officials' urgent requests for substantial military support to counter attacks.
- Rising near $110, oil prices reflect regional instability as analysts warn that disruptions to the Bab al-Mandab and Red Sea routes threaten accelerating inflationary pressure globally.
13 Articles
13 Articles
After Brent crude oil once again exceeded $108 per barrel, and some analysts are already mentioning the possibility of growth towards $120. This time, the market is not only disturbed by one closed route or one attack. Yemen's Houthis are expanding control along the Red Sea and have captured the strategic islands of Greater and Lesser Hanish after the port of Moha and Perim Island, while the important Saudi East-West oil pipeline remains largely…
Houthi advance in Red Sea leads oil past $108/bbl
Oil prices rose significantly following strikes on Saudi infrastructure and ship attacks. Yemen's Houthi rebels strengthened their control over key Red Sea maritime routes. Saudi Arabia's east-west pipeline disruption impacts port inventory levels. Market analysts suggest Saudi inventories may cushion near-term export impacts.
The strategic straits of the Middle East are again at the heart of the tensions. After Ormuz, under Iranian influence, it is now Bab el-Mandeb, at the entrance of the Red Sea, who is threatened by the Houthis, supported by Tehran. Strikes in Saudi Arabia, oil pipeline hit, Riyadh response: the tension rises, while the price of the Brent exceeds 108 dollars. In Yemen, the resumption of the fighting also causes new displacements of the population …
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