Saudi Arabia-Houthi Conflict Escalates as Oil Exports Hang in Balance

A conflict between Saudi Arabia and the Houthi rebels in Yemen continues to escalate, with sirens sounding in Riyadh after explosions were reported in the capital. The Saudi authorities issued air-raid alerts for Riyadh and several other regions, advising residents to avoid crowds before later giving the all-clear.

Iran's Revolutionary Guards have threatened to prevent other countries in the region from exporting oil if Iran's own shipments are disrupted. A senior commander warned that 'if Iran is insecure, there will be no safe spot in the region.'

The US has informed Congress that the war with Iran has cost $45.1 billion, including $43.6 billion in spending reported earlier this month and an estimated $1.5 billion for additional fuel.