Commodities
Houthi Attack on Saudi Oil Ramps Up Regional Tensions Amid Iran-US Standoff
The Houthi rebels in Yemen have launched a major attack on southwestern Saudi Arabia, targeting oil and other infrastructure. This escalation risks widening regional conflicts and adding pressure to crude prices.
The US has struck three Iranian crude oil carriers after the Islamic Revolutionary Guard Corps (IRGC) launched ballistic missiles towards two US Navy warships over the weekend.
The attack on Saudi Arabia comes as tensions between Iran and the US continue to rise. The Houthi rebels, backed by Iran, have been involved in a long-standing conflict with the Saudi-led coalition in Yemen.