Oil Prices Jump as Houthi Attacks Raise Saudi Supply Risks

The Yemeni Houthis have struck Saudi Arabia’s southern province of Najran in the latest flare-up of Middle Eastern hostilities, killing 11 civilians, Reuters has reported, citing a spokesman for the military coalition led by Saudi Arabia that fights the Houthis in Yemen.

The news comes on the heels of reports that Iran is considering a ban on U. S. , Israeli, and other “hostile” vessels in the Strait of Hormuz and fining ships that violate the ban with a sum equal to 20% of the cargo’s value.