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Houthi attacks on Saudi Arabia drive oil surge to $116+ and Saudi stock market to worst day in 18 months
Yemen's Iran-aligned Houthis launched strikes on Saudi energy facilities. Brent crude climbed ~3%+ to ~$116.72/barrel; WTI above $100. Saudi Tadawul index fell ~3.4% intraday, closing ~2.7% lower, marking its worst session in 18 months.
TLDR
An analyst claims Houthi strikes damaged three Saudi Aramco pumping stations and estimated repairs would take at least three to six months. In an October 25 update, the same analyst said Aramco's East-West pipeline had not returned to normal flow about a month after the attacks. Brent had climbed to about $116.72 a barrel, while Saudi Arabia's Tadawul closed roughly 2.7% lower.
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