Houthi Strikes on Saudi Oil Installations Fuel Global Price Surge
The Houthi rebels in Yemen fired on Saudi oil installations in Jizan and Yanbu, two Red Sea ports, on Saturday. The strikes were a sign that the war between Saudi Arabia and its allies and the Houthis could be spreading to a second major shipping route. This has contributed to a recent spike in global oil prices.
The attacks on the oil installations did not appear to cause significant damage, with some reports suggesting that two ballistic missiles aimed at the sites were intercepted by a U.S.-made Patriot battery operated by Greek military personnel in Saudi Arabia. However, the incident highlights the growing tensions between Saudi Arabia and its allies and the Houthis.
The conflict has been ongoing for over a decade, with the Houthis capturing Yemen's capital Sanaa in 2015. The fighting has paused under a ceasefire since 2022, but that truce broke down this month after the Houthis joined their Iranian allies in waging war against Saudi Arabia and its allies.
U.S. President Donald Trump has vowed 'major military punishment' for Tehran and the Houthis, while also threatening to widen the range of targets to include Iran's energy plants and bridges. However, it is unclear when or if these strikes will occur.