Houthi Attacks Spark Global Oil Price Surge Amid Middle East Conflict Escalation

A fragile ceasefire in Yemen appears to be on shaky ground as the Saudi-led coalition increased its activities in response to recent attacks by the Houthi movement, backed by Iran.

The conflict escalated over the weekend when the Houthis struck at Saudi oil facilities, including two major refineries in Jizan and Yanbu, which can process up to 400,000 barrels of oil per day.

This marks the latest development in a series of attacks on energy-related facilities in the region, with Brent crude oil prices rising above $100 per barrel as concerns over energy security grow.