Explosions heard over Riyadh as Saudi authorities say Houthi missiles downed

Explosions were heard over Riyadh, the capital city of Saudi Arabia, after authorities announced that Houthi missiles had been successfully downed. This incident marks the latest escalation in the ongoing conflict between Saudi forces and the Houthi rebels in Yemen. The conflict has significant implications for global markets and trade, particularly for oil prices, as Saudi Arabia is a major oil producer.

Why it matters

The Houthi missile attack on Riyadh and the intensifying fighting in Taiz indicate escalating conflict in the region. This could lead to increased instability and market volatility, making investors cautious about Middle East assets.

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