Houthi Attacks Send Oil Prices Soaring Amid Escalating Conflict with Saudi Arabia

The Iran-backed Houthi rebels attacked energy facilities and cities in Saudi Arabia on Tuesday, injuring over 70 people and sending oil prices soaring to a six-week high.

The attacks, which targeted four cities in southern Saudi Arabia, were carried out by the Houthis, who are backed by Tehran. The conflict has been ongoing since February 28, when the US and Israel launched airstrikes against Iran's nuclear program.

Iran had warned of the vulnerability of energy infrastructure across the Gulf, including US oil and gas interests, following a tit-for-tat exchange of attacks on ships in the region last weekend. The Saudi energy ministry reported fires at some facilities and said several people were injured as emergency teams rushed to contain the blazes.

The Houthis have been launching attacks against Saudi Arabia since declaring a naval blockade against Riyadh in July, with strikes targeting its vessels in the Red Sea. Disruptions to shipping through the Red Sea have added to concerns about global oil and gas supplies.