Persian Gulf States Call Off Iran Talks Amid Escalating Yemen Conflict

The Persian Gulf states have called off a meeting with Iran planned for Monday due to escalating tensions in Yemen, where the Houthis have launched a new attack on Saudi Arabia. The upsurge of fighting has further jeopardized global oil supplies.

Saudi authorities announced brief emergency alerts in several southern cities after the Houthis fired dozens of missiles and drones at a military airbase in Khamis Mushait, hitting aircraft hangars, radar systems, runways, and ammunition depots. The attack was described as retaliation for hundreds of Saudi airstrikes on Yemen in recent days.

The closure of Saudi Arabia's east-west pipeline, the main route for Middle East oil bypassing the blockaded Strait of Hormuz, could cut off as much as four percent of global oil supply unless it is reopened within days. Crude oil prices rose more than three percent on Monday after the market reopened.

Oman had been due to host a meeting with Iran and Gulf states to discuss negotiations aimed at reopening the Strait of Hormuz, but the meeting was postponed 'in the interests of consensus'. Iran said the postponement was at the request of Saudi Arabia.