Houthi Attacks Send Shockwaves Through Saudi Oil Exports

Saudi Arabia issued rare air-raid alerts for Riyadh on September 19, the first in the capital since March and April. The kingdom's early warning system sent emergency alerts at 4am and again at 6am local time without giving further details. The Saudi Civil Defense said the danger had lifted soon after in both cases.

Other areas across Saudi Arabia received similar warnings overnight, including the Red Sea cities of Jeddah and Yanbu, as well as Farasan Island in the Red Sea. Yemen's Houthis have been carrying out almost daily strikes against Saudi Arabia in the last month, with one attack causing one death and several injuries in Taif on September 17.

The Iran-backed militia has recently launched a push to exert further control over the Red Sea's Bab al-Mandeb and made significant gains on Yemen's western coast, taking over the port city of Mokha and a series of islands close to the strait. The group has also said it is imposing a blockade on Saudi ships in the Red Sea and has hit several ships in the waterway.

The closure of the pipeline bypassing Hormuz last week further squeezed an energy market grappling with a supply shortage, pushing oil prices higher. State-run Saudi Aramco is seeking to restore the pipeline to about half its capacity within days and reach full capability in about six weeks.