Houthis Launch Attacks from Iraqi Territory in Coordinated Effort with Iraqi Militias

According to Reuters, recent attacks on Saudi Arabia were launched from Iraqi territory by Yemen's Iran-backed Houthis in coordination with Iran-aligned Iraqi militias. This assessment comes from a report citing Saudi Arabia and regional partners' findings, which differ from the official public accounts of the incidents. The findings suggest that the Houthi-Iraqi militia coordination is more extensive than previously thought.

The State Street Energy Select Sector SPDR ETF (XLE) and Brent Futures (CO1:COM) may be affected by this geopolitical risk and oil volatility, as Saudi Arabia is a major oil producer. The attacks have raised concerns about the stability of the region and the potential for further escalation.