Commodities
Saudi-Backed Forces Clash with Houthi Rebels Amid Escalating Middle East Conflict
Iran-backed Houthi rebels in Yemen accused Saudi-backed forces of launching dozens of airstrikes overnight across four provinces, after rebel attacks on Saudi Arabia ignited fires at several oil facilities and wounded dozens of people. The strikes come a day after Houthi attacks on several oil facilities and utilities in Saudi Arabia wounded 73 people.
The US Central Command denied claims that Iranian forces struck two American warships, saying all attempted attacks failed. However, the UK Maritime Trade Operations Center reported that one tanker was struck by an unknown projectile in the northern Persian Gulf, with the crew safe.
The ongoing conflict pushed Brent crude oil prices past $100 on Wednesday.