Houthi Attacks Spark Oil Price Surge Amid Pipeline Threats
Saudi Arabia's energy infrastructure is facing increased threats as Houthi forces continue to escalate their attacks. Satellite imagery has revealed smoke near a crucial East-West oil pipeline, sparking concerns about potential disruptions to global energy exports.
The Houthis have made significant gains in recent days, seizing the strategic island of Perim in the Bab el-Mandeb Strait after government troops withdrew. This key maritime chokepoint is vital for Saudi Arabia's oil exports, with the country relying heavily on the Red Sea route following the closure of the Strait of Hormuz due to conflict with Iran.
The rebels have also taken control of several mainland coastal towns and ports, including Dhubab and Mokha. Oil prices have risen in response, reaching $108 a barrel as investors grow increasingly concerned about the potential impact on global energy supplies.