Iran-Backed Houthis Launch Strikes Against Saudi Oil Refineries
The recent escalation of tensions between the US and Iran has led to a series of retaliatory strikes against Saudi Arabia's oil refineries. The Iranian-backed Houthis in Yemen claim responsibility for attacking the Abqaiq refinery, which processes around 7-9% of global crude oil. This attack forced the Saudis to suspend production at the facility.
The Trump administration had launched a series of airstrikes against Iran last month, prompting the country's allies to retaliate. The US and Saudi Arabia blamed the Popular Mobilization Forces in Iraq for the attacks on Abqaiq, but this claim is disputed by the militias themselves.
As a result of the ongoing conflict, oil prices have risen, with gasoline reaching over $4 per gallon in the US. This has put pressure on Trump voters who are already struggling with high energy costs.