Saudi Arabia launched airstrikes on Houthi positions in Yemen early Monday, the Saudi-led coalition said, in retaliation for recent Houthi attacks on energy sites. The military action sent Brent crude oil above $100 a barrel for the first time in months.
Why the strikes were launched
The Houthi group, which controls much of northern Yemen, has stepped up attacks on Saudi energy infrastructure in recent weeks. Drones and missiles targeted oil facilities, including a major refinery in the city of Jeddah. The Saudi coalition said the airstrikes were a direct response to these assaults, which it described as a threat to global energy supplies.
“The coalition will take all necessary measures to protect its energy resources,” a statement from the Saudi-led alliance read. The Houthis have not yet commented on the strikes.
Oil markets react
Brent crude, the international benchmark, jumped more than 5% on Monday, crossing the $100 threshold. Traders cited the risk of further disruption to oil flows from the region. Saudi Arabia is the world’s largest oil exporter, and any conflict near its production sites tends to rattle markets.
The price surge adds to inflationary pressures already weighing on the global economy. Analysts had expected oil to stay below $100 this quarter, but the escalation in Yemen changed that calculus.
Broader regional tensions
The airstrikes mark an escalation in the years-long conflict between the Saudi-led coalition and the Iran-backed Houthi group. The war has killed tens of thousands of people and created a humanitarian crisis. Previous rounds of retaliation have often led to tit-for-tat attacks, raising the risk of a wider confrontation.
Iran, which denies arming the Houthis, condemned the Saudi strikes. The United Nations called for restraint, urging both sides to return to ceasefire talks.
The airstrikes are ongoing, and the full extent of the damage is not yet known. Oil markets will be watching for any sign of a Houthi counterstrike that could push prices even higher.
