Saudi Oil Attacks Send Shockwaves Through Global Markets

The Houthi forces launched a series of strikes on Saudi oil infrastructure between July 22 and 25, targeting tankers and Aramco facilities along the Red Sea coast. This move sparked a chain reaction in global markets.

Crude oil prices surged past $100 per barrel as markets priced in supply concerns tied to the Red Sea shipping lane disruptions. Gulf equity markets declined as geopolitical fears mounted.

The Houthi attacks also had a ripple effect on crypto markets, with Bitcoin falling below $65,000 and XRP trading lower due to energy price volatility.