Houthi attacks expand on Saudi airports and facilities as Brent surpasses $100

The Houthi movement's spokesman, Brigadier General Yahya Saree, announced that the group's forces targeted King Khalid International Airport in Riyadh and Saudi Aramco's oil facilities in Ras Tanura, as well as Abha International Airport and Khamis Mushait Air Base.

On the other hand, the spokesman for the Saudi coalition, Major General Turki al-Malki, stated that the missile targeting Riyadh was intercepted and its launch pad destroyed. This exchange of announcements comes at a time of escalation across multiple fronts in the region.

Following this, Brent crude returned to above $100 per barrel. Data reported by the Kpler group showed that crude flows through the Strait of Hormuz reached about 76% of pre-war levels, a decline of roughly 24%.

The Strait of Hormuz represents the main corridor for Gulf oil exports to global markets, which is why traders monitor any developments there, as it determines shipping costs and energy prices. This development concerns importers and companies across the entire Arab region, because any disruption in the corridor impacts bills and fuel prices.

What do these terms mean?

Brent: A crude oil extracted from the North Sea and used as a global benchmark for pricing most other types of oil.

Strait of Hormuz: A narrow waterway at the entrance to the Gulf through which a large portion of global oil exports passes, and any disruption in it raises energy and shipping prices.

Launch pad: The base from which missiles are launched, considered a military target because its destruction prevents further launches.

Kpler: A company specializing in tracking ship movements and energy cargoes, whose data is used to measure the volume of seaborne oil flows.