Yemen’s Houthi movement, also known as Ansar Allah, has claimed responsibility for drone attacks on Saudi Arabia’s oil infrastructure, the group’s military spokesperson Yahya Saree said. According to Saree, the strikes targeted pumping stations transporting crude oil in the eastern and western parts of the country. The Houthis also said they had launched ballistic missile attacks on military targets belonging to the Saudi-led coalition in Yemen’s Aden and Lahij governorates.
No information has been provided on the consequences of the reported attacks. Attacks on Saudi Arabia’s infrastructure, coupled with reduced oil flows through the Strait of Hormuz, are adding to pressure on global oil markets. Meanwhile, freight rates along the Yanbu-Ninbo route have doubled since early September.
Claudio Galimberti, chief economist at Rystad Energy, highlighted these developments in a review of global energy markets, according to a press release issued by the company. He noted that disruptions to oil supplies, rising transportation costs and inflationary pressures were affecting the global economy. "Pressure on oil markets is being driven by both supply disruptions and rising transportation costs.
Attacks on Saudi Arabia’s infrastructure and reduced flows through the Strait of Hormuz are limiting supply. At the same time, freight rates along the Yanbu-Ninbo route have doubled since early September, increasing the cost of delivering oil to Asia," Galimberti said. Here we are to serve you with news right now.
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