Yemen's Houthis say they attacked a Saudi oil tanker in the Red Sea, Gulf of Aden
Yemen’s Iran-backed Houthis said that they had launched a missile attack on a Saudi oil tanker off the coast of the kingdom's Red Sea port city of Yanbu and another missile attack on a Saudi oil tanker in the Gulf of Aden, Reuters reported on Wednesday.
Yemen's Iran-backed Houthi rebels claimed responsibility for missile attacks on two Saudi oil tankers, one in the Red Sea off the coast of Yanbu port city and another in the Gulf of Aden. The United Kingdom Maritime Trade Operations reported an incident southeast of Aden, though it is uncertain if it was the same attack. The Houthi military spokesman stated that these attacks marked the eighth and ninth Saudi oil tankers targeted since the start of the blockade last month.
The West Texas Intermediate (WTI) crude oil price remains down 0.20% on the day at $74.22. In financial terms, "risk-on" and "risk-off" describe the level of risk investors are willing to accept. During "risk-on" market conditions, investors are optimistic and more willing to purchase risky assets, leading to rising stock markets and commodity prices.
Conversely, "risk-off" markets see increased demand for safer assets, causing bonds, the US Dollar, Japanese Yen, and Swiss Franc to rise.
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