Houthis Attacked Saudi Airports and Oil Refineries; Yemen Recaptured a Key Oil Strait

The Iran-backed Houthis in Yemen claimed to have carried out a series of large-scale strikes on key targets in Saudi Arabia, including a major Saudi Aramco oil refinery, according to AFP. According to the Houthis, the targets struck also included King Khalid International Airport in Riyadh, Abha Airport, and the Khamis Mushait military base. The Saudi side has not confirmed these claims, the agency reports.

Earlier, his sources reported that Saudi Aramco’s key “East-West” main pipeline had been shut down again due to attacks; however, according to Bloomberg, it continues to operate normally.

At the same time, Yemeni government forces announced a major success: they managed to recapture the coastline of the strategically important Bab el-Mandeb Strait—one of the world’s main oil transport routes—from the rebels, Reuters reported. Regaining control of the strait alleviates some of the risks for energy markets, the agency believes. The threat of a Houthi takeover of this shipping hub came on top of Iran’s blockade of the Strait of Hormuz, which significantly exacerbated concerns about global exports amid the Middle East conflict.

The Yemeni army’s counteroffensive was supported by the Saudi Air Force, which carried out about 100 combat sorties, Reuters reports. Pro-government forces drove the rebels out of most coastal areas, took control of Zubab Airport and the Al-Omari military camp, and advanced to the outskirts of the port city of Mocha.

Global oil prices fell slightly on Tuesday. Futures for the benchmark Brent crude fell below the psychologically important $100-per-barrel mark, while North American WTI traded at around $88.5. Market concerns were eased by steady oil exports from the Middle East, which exceeded pre-war levels, as well as the G7 countries’ decision to release 100 million barrels from emergency reserves, CNBC explains. Nevertheless, as long as the conflict continues and there is no clear diplomatic breakthrough, the lower bound on oil prices remains fairly firm, analysts at KCM Trade warn.

This article was AI-translated and verified by a human editor