Iranian Proxy Attacks Corner Saudi Arabia in Oil Export Crisis

Saudi Arabia is facing a daunting situation as it struggles to maintain its oil exports and economy amidst a series of attacks from Iranian proxies. The kingdom has been targeted by Yemen's Houthi rebels, who have imposed a Red Sea blockade on Saudi ships, and pro-Iran militias in Iraq, which have attacked energy facilities.

The Houthis have hit several Saudi tankers in the Red Sea, aiming to limit access to a critical artery delivering Saudi crude to the international market. The attacks come as Iran has already choked off the Strait of Hormuz, further restricting oil exports.

Saudi Arabia has so far exercised restraint, but analysts warn that its patience is wearing thin. 'Restraint has limits,' said a Saudi analyst close to the government. Joint US-Saudi strikes in Iraq killed 20 people, according to the alliance of former paramilitary groups and factions whose bases were targeted.

The threats on multiple fronts have significant implications for regional stability and global energy markets. The repeated attacks have shattered the reputation of Gulf states as a stable investment destination.