Commodities
Houthi Attacks Send Oil Prices Soaring Above $100 a Barrel
Tensions in the Gulf have escalated as Iran-aligned Houthi militants targeted Saudi oil installations at Jizan and Yanbu ports.
The attacks, which took place on Saturday, were claimed by the Houthi military through its spokesperson Yahya Saree to be successful strikes on sites belonging to Saudi Aramco.
Video footage showed smoke from the Jizan refinery, indicating that the Houthi claims are credible.
The Saudi-led response involved airstrikes on Houthi military positions across Yemen, leading to a further increase in international tensions.
The conflict has disrupted global oil supplies, with prices spiking above $100 a barrel as a result of the renewed violence.