Houthi attacks on gov’t forces hint that a major battle in Yemen is brewing
Houthis' expansion of cross-border attacks means an even bloodier war may be imminent, analysts say.
Oil prices experienced significant volatility on Friday, following renewed fears of supply disruptions due to escalating attacks by Houthi rebels in Yemen on Saudi Arabia. The benchmark Brent crude, representing two-thirds of the world's oil, fell by 0.68% to $81.93 per barrel. West Texas Intermediate, which tracks US crude, also declined by 0.39% to $76.99 per barrel.
Houthi attacks on the southern region of Saudi Arabia resulted in 11 civilian injuries and a blockade of the Red Sea, disrupting oil exports. This escalation comes as the Iran war continues, nearing six months in duration. Talks between the US and Iran about potential agreement on shipping in the Strait of Hormuz, which could lead to a drop in oil prices, showed some promise this week.
However, the physical situation did not improve, and Iranian hardliners threatened to sabotage any deal, causing oil prices to rebound. The ripple effects of the war on global oil prices have made it challenging for governments, energy companies, and analysts to predict market trends. Opec+ recently agreed to increase crude output for a sixth consecutive month in September, while monitoring the situation closely.
Written by urgent.news from The National UAE's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Oil price volatile as Houthi attacks renew supply crunch fears thenationalnews.com
- Houthi missile and drone attacks kill dozens of Yemeni government troops middleeasteye.net
- Houthi rebels launch new attacks on Saudi-backed troops cbsnews.com
- Two civilians killed in Houthi strike on Marib, says Yemen’s government aljazeera.com
