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Saudi Coalition Targets Houthis In Yemen In Response To Oil Pipeline Attack

OilPrice.com Friday, 17 May 2019
The Saudi-led coalition conducted air strikes on Yemen’s capital Sanaa on Thursday, targeting bases of the Iran-aligned Houthis after the Houthis claimed responsibility for the drone attacks on an oil pipeline in Saudi Arabia earlier this week. Saudi Arabia and Iran are essentially fighting a proxy war in Yemen, where the Saudis lead a military Arab coalition to “restore legitimacy” in the country, while the Houthi movement, which holds the capital Sanaa, is backed by Iran. Two pumping stations along Aramco’s East-West oil…
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News video: Oil Prices Are Up As Tensions Rise In Middle East

Oil Prices Are Up As Tensions Rise In Middle East 00:48

According to Reuters, oil prices were trading higher in response to tensions in the Middle East. On May 16th, the price for West Texas Intermediate crude oil added 1.4-percent, rising to $62.87 per barrel. The price for Brent crude oil jumped over 1.5-percent, bringing the international benchmark to...

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