Iran-backed Houthis strike Saudi oil company Aramco's headquarters, officials say

Iran-backed Houthis have launched an attack on the headquarters of Saudi oil company Aramco, damaging the top three floors of the building. This incident marks a significant escalation in the ongoing conflict between the Houthis and Saudi Arabia. The attack's impact on the global oil market is uncertain, but any disruption to Aramco's operations could have far-reaching consequences for oil prices and trade.

Why it matters

The attack on Aramco's headquarters is a significant escalation of the conflict in Yemen, which could lead to increased instability in the region and impact global energy markets. This could lead to a rise in oil prices and increased risk aversion.

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