Oil jumps as Iran, Houthis step up Gulf attacks

By David S. , its ports blockaded and its leverage over the Strait of Hormuz slipping. Now, Tehran is trying to regain the upper hand. Iran and its Houthi allies in Yemen delivered a one-two punch against Persian Gulf oil producers in separate attacks on Wednesday night and Thursday morning that sent oil prices sharply higher and further shattered the sense of security in Saudi Arabia's capital city.

K. Maritime Trade Operations agency. No one claimed responsibility for the attack, but officials in the region said Iran was likely behind it. The ship attack was followed by Houthi strikes Thursday in Riyadh, damaging aircraft at the international airport and forcing residents to take cover in the third straight day of attacks on the city.

On Friday, Saudi Arabia said the attacks on the airport Thursday killed three people, including a pilot for the country's flag carrier, Saudia, and wounded others. The attacks targeted an aircraft and facilities, the statement added, without elaborating. By increasing attacks on shipping, Tehran is seeking to break the stalemate in the Strait of Hormuz and increase pressure on Washington to reach a diplomatic settlement, analysts say. The limited military moves could raise oil prices and pressure President Trump before the midterm elections, while stopping short of another full-scale military confrontation that even Tehran doubts it can win.

S. officials believe deferring a decision about whether to resume military operations against Iran will increase pressure on Tehran to make major concessions, including on its nuclear program. "Iran is clearly raising the pressure, while Washington is hardening both its rhetoric and military posture, but neither side has yet abandoned diplomacy," said Andreas Krieg, a senior lecturer at the School of Security Studies at King's College London. "This is precisely what makes the moment so dangerous.

S. next month. S. won't attack Iran before the election, citing "productive" talks with Tehran.

"We will not be attacking Iran at any time prior to the Midterm Elections," Trump said in a Truth Social post. S. military assistance against the Houthis, though the Pentagon is providing intelligence and other support. S.

87 a barrel. Surging energy prices weighed on stocks and treasury yields. -protected tanker movements, ship-to-ship transfers outside Hormuz and pipelines that bypass the strait entirely. Saudi Arabia has also resumed exports from both its Gulf and Red Sea coasts after repairing part of the damage to its East-West pipeline following an attack last month.

The Houthis are armed and trained by Tehran, but their escalating attacks against Saudi cities and oil facilities indicate that they are less cautious than their Iranian backers. The Houthis stepped up strikes inside the kingdom after Riyadh launched a campaign to retake Houthi-held territory in Yemen that threatened Saudi ship traffic through the Bab al-Mandeb, the heavily traveled gateway to the Red Sea. In response to the Saudi-led counteroffensive, long-range Houthi strikes have escalated into a daily occurrence in Riyadh, more than 500 miles north of the fighting in Yemen.

Houthis said Thursday that Saudi aircraft had carried out several airstrikes across Houthi-controlled areas, including strikes targeting telecommunications networks in Yemen's capital San'a, Hodeidah airport and Ibb, causing several casualties. "The fires targeting Saudi targets have not stopped, while warnings and strikes continue to escalate," Houthi leader Abdul Malik al-Houthi said Thursday in a televised speech. "Saudi Arabia's regime cannot achieve its objectives" of controlling Yemen, he added. At least two airplanes were struck in the latest attack on Riyadh's King Khalid International Airport on Thursday.

Falling debris from an intercepted ballistic missile hit a kindergarten and a medical-clinic complex, while workers in the city's financial district, students at some international schools and diplomats were ordered to evacuate or take shelter. Residents across the city said they heard at least five huge booms Thursday morning but received no alerts or warnings on their phones from authorities. An empty commercial plane at Riyadh airport's Terminal 4, which handles domestic flights, was hit in the afternoon and dozens of incoming flights were canceled or diverted.

Foreign students at several international schools were shaken after spending part of the afternoon sheltering in place in windowless rooms, said a mother who spoke to parents at several of the schools. The Houthis' military spokesman, Yahya Sare'e, said in separate statements that the airport had been hit by a ballistic missile and by two cruise missiles. The Saudi-led military coalition said it had shot down two ballistic missiles Thursday. It was at least the third time the airport had been targeted since Tuesday, when Houthi officials vowed to respond to airstrikes and missile attacks by the Saudi-led coalition against their forces in Yemen.

The Houthis have repeatedly warned "all international airlines using Saudi airspace" to halt their flights, except those over the Muslim holy cities of Mecca and Medina. " Saudi officials have been putting out new warnings to the public since Tuesday that filming and sharing images of drone and missile attacks, or interceptions, could bring legal charges. Write to David S. com (END) Dow Jones Newswires October 09, 2026 05:25 ET (09:25 GMT) Copyright (c) 2026 Dow Jones & Company, Inc.

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