Houthis launch missile and drone strikes on Saudi Aramco sites; Yemen offensive escalates over weekend

What happened

Yemen's Iran-backed Houthis said Sunday they launched ballistic missiles and drones at Saudi Aramco sites in Riyadh and the Khurais area, claiming the strikes set off major fires. The Houthis called the attacks retaliation for what they said were about 50 Saudi-led coalition air and missile strikes on Yemen in the preceding 12 hours. Separately, Yemen's Saudi-backed, internationally recognized government launched a major military campaign Sunday to retake all territory held by the Houthis. Brent crude futures were little changed near $102.20 a barrel while U.S. crude stood at $90.75, as the weekend escalation offset the G-7's planned 100-million-barrel coordinated oil-stock release.

Who’s affected

• Energy producers and refiners — higher risk premium supports crude; Brent held near $102.20, U.S. crude at $90.75
• Saudi Aramco (2222.SE) — direct target; shares traded flat but infrastructure risk is rising
• Airlines, transport, and energy-intensive industrials — fuel-cost exposure if crude stays elevated
• Broad U.S. equities — oil above $100 sustains inflation and Treasury-yield pressure, a headwind for rate-sensitive stocks

Sources

reuters.comreuters.com