Houthi Attacks on Saudi Oil Facilities Spark Global Fuel Price Concerns

The Houthi rebels in Yemen have launched a series of attacks on Saudi Arabia's oil facilities and tankers, sparking concerns over global fuel prices and world markets. The conflict has pushed up global fuel prices, with some estimates suggesting that the Houthis' biggest land grab in years has already had an impact.

The Houthi forces are advancing in parts of Yemen, escalating a conflict that has been raging for years. They have captured key locations including the Red Sea port city of Mokha and several islands near the Bab el-Mandeb strait, which is used by 12% of world trade. The Houthis want Saudi Arabia to lift a long-running blockade on the territory they control.

The conflict has already caused widespread disruption, with some 125,000 Yemenis forced to flee their homes and an estimated 150,000 people killed since the civil war began in 2014. Regional mediators have sprung into action, but a diplomatic agreement appears unlikely without some kind of breakthrough in the wider Iran war.