The Aporia
Saudi Arabia reports fresh Houthi attacks after issuing warnings for several regions including Mecca. France pledges military support to protect Yanbu, the kingdom's primary crude export terminal on the Red Sea. President Emmanuel Macron announces sending soldiers and radar systems to defend Yanbu following missile strikes by Iran-backed Houthis targeting sensitive targets in Riyadh and Aramco facilities in Yanbu. Meanwhile, Saudi Arabia, Turkey, and Pakistan meet to discuss mutual defense options under their pact signed in August.
Oil prices have jumped following these attacks, with Brent crude futures rising more than 3% due to fears of additional disruptions to energy supplies amid the ongoing US-Israel war on Iran. The renewed hostilities shattered a years-long truce in Yemen, leading to significant casualties and cementing Iran's allies' hold over vital Red Sea coastlines crucial for Saudi oil exports. France’s military support aims to protect Yanbu without involving itself directly in the conflict. Major powers are rallying behind Saudi Arabia as Houthi attacks escalate. However, doubts persist about concrete actions by Turkey and Pakistan under their mutual defense pact. The UN faces a crisis amid unilateral actions by major powers. Yemen government forces claim control of Mount Qarfan in Taiz amidst ongoing hostilities. Despite diplomatic efforts, a US-Iran deal remains elusive. UK’s support for Saudi Arabia in its war with Iran-backed Houthis is under scrutiny. Surging fuel prices in France are attributed to international conflicts including the US war on Iran and its impact on oil markets.