Houthi rebels launched a large-scale attack on a Saudi airbase and oil pipelines, causing international oil prices to surge over 4%, with Brent crude trading at $109.18 per barrel.
Yemen's Houthi rebels launched dozens of ballistic missiles and drones at Saudi Arabia's King Khalid Air Base in Khamis Mushait, southwestern Saudi Arabia, on September 14, and attacked a pumping station on the Saudi East-West oil pipeline, forcing its shutdown. Saudi oil traders warned that if the pipeline cannot resume operations within days, Saudi export inventories will be depleted, potentially affecting about 4% of global oil supply. Consequently, international oil prices rose, with Brent crude up over 4% to $109.18 per barrel. In addition, a regional meeting originally scheduled for September 14 in Oman has been postponed, and negotiations on navigation through the Strait of Hormuz have again reached an impasse, further exacerbating market concerns about energy transit in the Middle East.
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