Houthi strikes raise concerns over oil supply routes and costs
Saudi Arabia oil attacks disrupt Aramco sites and raise shipping risk See how Houthi strikes may push up costs as global energy routes tighten
Iranbacked Houthi forces launched dozens of ballistic missiles and drones at energy targets in Saudi Arabia on Tuesday, including facilities linked to Aramco, the country’s stateowned oil company. Saudi officials said the attacks caused fires and temporary shutdowns at some sites and wounded 73 people.
The strikes come as global oil shipping is already under pressure from disruptions in the Strait of Hormuz. Saudi Arabia has been sending more crude through the Red Sea, making the Bab elMandeb strait a more important route and increasing concern about another possible bottleneck for oil shipments.
Analysts and officials say renewed attacks on Saudi energy infrastructure or commercial vessels could raise oil, shipping and transportation costs. Brent crude traded near $99 a barrel on Tuesday, and the situation remains uncertain as Saudi Arabia works to restore operations and keep shipping moving through the region.