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Saudi warns it will expand operations against Houthis

Saudi officials said a separate early Friday attack injured 11 civilians in the kingdom, including a child, raising risks for regional oil supply.

Reported · Written up by our desk · Major Pairs

Saudi Arabia plans to extend its military operations against Iran-aligned Houthis following attacks that targeted Saudi Arabia’s Najran province and Yemeni government forces, according to a report cited by FXStreet, referencing The Guardian.

A Saudi coalition spokesperson, Maj General Turki al-Maliki, accused the Houthis of indiscriminately shelling civilian areas in Saudi Arabia early on Friday, injuring 11 civilians including a four-year-old child. The spokesperson said the coalition would continue taking necessary measures to protect civilians.

The report said escalating Middle East conflict is prompting fears of a prolonged oil supply disruption, which could keep global inflation expectations “de-anchored.” As of writing, WTI oil was trading near $77.50 after a strong rebound on Thursday.

While the piece is largely descriptive, it also outlines how markets typically shift between “risk-on” and “risk-off,” noting that safe-haven currencies such as the US dollar, Japanese yen, and Swiss franc tend to benefit during risk-off periods.

Latest closeWTI crude $78.07 ▲3.8%

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