Houthis Strike Saudi Targets, Escalating Regional Tensions and Oil Prices
Loud explosions shook northern districts of Riyadh on Monday as Saudi forces intensified operations against Houthi forces in Yemen. Residents reported powerful blasts that rattled residential buildings near King Khalid International Airport. Houthi military spokesperson Yahya Saree later claimed responsibility for coordinated strikes targeting the airport, an Aramco oil refinery in Rabigh, and other key locations, including Abha International Airport and military installations in Najran and Jazan.
The escalated cross-border attacks pushed Brent crude oil prices to hover around $100 a barrel. Global energy markets reacted to the intensifying control battles over the Bab el-Mandeb Strait, as well as conflicting reports about strikes on a vital Saudi oil pipeline. Despite heightened security risks in regional waterways, Middle Eastern crude exports, excluding Iranian shipments, surpassed pre-war levels in September, according to maritime tracking firm Kpler.
Analysts attribute the export recovery to oil producers using alternative transit corridors via the Red Sea, though escalating hostilities with Houthi forces threaten to introduce fresh volatility to regional shipping lanes.
In unrelated news, Iran’s embassy in Ghana mocked former U.S. President Donald Trump's claims of high intelligence, stating his IQ was “404,” referencing the internet error code for a missing page. The embassy’s post came amid ongoing political and media tensions between Tehran and Washington.
Meanwhile, Iran’s government spokesperson stated the country was ready for negotiations but would not give up its rights under any circumstances. The Iranian parliament is also preparing to question Foreign Minister Abbas Araghchi over his reported contacts with U.S. officials during his recent visit to the United States.
Qatar’s foreign ministry reported that talks and visits were continuing to help advance negotiations between the United States and Iran, and that Doha was open to a visit by the Iranian side to discuss the fate of Iranian pilots who went missing during the war. Additionally, a Panama-flagged tanker, MT On Peace, was hit by a projectile in the Strait of Hormuz, injuring 12 crew members.