Why Geopolitical Tensions Have Spiked In The Middle East

Picking up from where we left off last time on geopolitical drivers that could send oil prices higher, the Iranian-backed Houthis in Yemen have upped the ante with an attack on the UAE, which had largely withdrawn forces from Yemen, leaving the Saudis high and dry.  Now, there is a risk they will be pulled back into the melee after the Houthi rebels launched a drone attack on a key oil facility in Abu Dhabi, killing three people and starting a fire at the Emirate’s international airport. The site of the attack was an industrial zone…