Houthis hit Saudi infrastructure as Yemeni government forces retake key coastal areas

The Iran-backed Houthi rebels in Yemen say they have carried out a series of major strikes on key pieces of infrastructure in Saudi Arabia, including a major Saudi Aramco refinery, AFP reports. They claim that the targets also included King Khalid International Airport in Riyadh, Abha International Airport, and the Khamis Mushait military base. Saudi Arabia has not confirmed the claims, AFP notes.

AFP had earlier reported, citing a source in Saudi Arabia’s energy sector, that a fresh attack had again halted pumping through Saudi Aramco’s key East-West pipeline. However, Bloomberg later reported that oil was continuing to flow through the pipeline and that it was operating normally.  

At the same time, Yemeni government forces have announced a major breakthrough: they have retaken the coast around the strategically important Bab el-Mandeb Strait, one of the world’s main oil shipping routes, Reuters reports. That should ease some of the risks to energy markets, the news agency believes The threat of the Houthis seizing the shipping chokepoint had compounded concerns about global exports amid the Middle East conflict after Iran closed the Strait of Hormuz.

The Yemeni army’s counteroffensive has been supported by Saudi aircraft, which have flown around 100 combat sorties, Reuters adds. Pro-government forces have supposedly driven the rebels from most coastal areas, seized Dhubab airport and the Al-Omari military camp, and reached the outskirts of the port city of Mocha.

Global oil prices had edged lower on Tuesday as of this writing. Futures for benchmark Brent crude fell below the psychologically important threshold of $100 per barrel, while U.S. West Texas Intermediate traded at around $88.50. Market concerns have eased thanks to resilient Middle Eastern oil exports, which have exceeded prewar levels, as well as the G7 countries’ decision to release 100 million barrels from emergency reserves, CNBC notes. Nevertheless, as long as the conflict continues and there is no clear diplomatic breakthrough, the floor under oil prices looks reasonably firm, KCM Trade analysts warn.