Gulf Cancels Iran Talks; Houthis Attack Saudi

Gulf countries canceled a scheduled meeting with Iran today, while the Yemeni Houthis launched a missile and drone attack on a Saudi military base in Khamis Mushait, targeting aircraft hangars, radar systems, and ammunition depots. This escalation comes in response to hundreds of Saudi airstrikes on Yemen and has led to the suspension of the Saudi oil pipeline passing through the region, causing oil prices to rise by more than 3%. It is expected that if the closure continues, up to 4% of global oil supplies could be disrupted. Iran has also increased its threats, releasing a list of 77 ships alleged to have violated the Hormuz Strait protocols. These developments are considered some of the most serious escalations in the Middle East, with direct impacts on global oil supplies and regional stability.

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