Oil Prices Rise as Houthi Missile Strike on Saudi Tanker Raises Supply Route Risks

Oil prices climbed following reports that Houthi militants claimed a missile strike on a Saudi tanker near the port of Yanbu. The incident heightens concerns about the security of alternative oil export routes as tensions in the Red Sea and disruptions near the Strait of Hormuz persist.

The attack highlights geopolitical risks to global energy supply chains, particularly for regional producers seeking to bypass chokepoints. Market participants are monitoring developments closely for any escalation that could further tighten crude flows.