Escalating Conflict in the Gulf: Houthi Attacks Drive Oil Prices Skyward

Yemen's Tehran-backed Houthis have expanded their attacks into four Saudi cities, wounding over 70 people and targeting key oil infrastructure. These strikes mark a significant escalation in the months-long Middle East conflict, impacting global oil prices and raising geopolitical tensions in the Gulf region.

Yemen's Iran-supported Houthis launched a series of attacks on key Saudi oil installations in four southern cities on Tuesday, escalating the ongoing Middle East conflict and wounding more than 70 people, according to officials. The comprehensive strike marks a substantial intensification of hostilities that had begun to cool off in recent months.

A major oil facility in Jazan was set ablaze, emitting thick black smoke visible from NASA satellite images, while another blaze at an Abha oil distribution center was confirmed by Saudi authorities. The Houthis claimed responsibility for what they described as deliberate strikes against Saudi military and oil assets, including a power plant near the Red Sea port city of Jazan.

The resurgence in fighting comes after a month of calm, raising fears of further instability in global energy markets, as Brent crude prices approached the $100 mark once more. The Saudi-led coalition has vowed to take decisive action against the Houthi aggression, while international entities express concern over the widening impact on global oil supply.