Houthi offensive in Yemen rattles Saudi Arabia and global markets

theweek.com

A stunning Houthi offensive in Yemen, including the capture of the port city of Mokha and destruction of a pipeline, has rattled Saudi Arabia and sent jitters through global markets. The attacks have caused a plunge in Saudi oil exports to Asia, from 3.4 million barrels a day in June to 128,000 in August, as Houthi forces press toward Marib, the last major government stronghold. Saudi Arabia has turned to China for help, which has privately asked Tehran to rein in the Houthis, while Riyadh remains wary of Israeli offers to intervene due to Arab world sensitivities.


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