Yemeni Conflict Intensifies, Impacting Saudi Oil Market with Base Attack

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A recent escalation in the conflict between Iran-backed Houthi fighters and Yemeni government forces has led to a missile and drone attack on a military base in southern Saudi Arabia. The Houthis have claimed responsibility for this assault on the Sharurah base, which their military spokesperson, Yahya Saree, said was aimed at weapons depots and command-and-control centres. In response, Saudi civil defence authorities have confirmed that a projectile landed near the Yemen border, injuring two people and causing damage to a mosque and several buildings.

Amid these heightened tensions, Yemeni government forces have also ramped up their offensive efforts against Houthi positions. The Yemeni military reported conducting three airstrikes in the Taiz region, targeting Houthi strongholds and weapons caches near the port city of Mocha on the Red Sea. This military activity comes on the heels of a significant week-long Houthi offensive that saw the group seize control of large portions of Yemen’s Red Sea coast and several strategic islands. These territorial gains have bolstered Houthi control near the Bab al-Mandab Strait, an essential maritime passageway at the southern end of the Red Sea.

The situation has further intensified with the Houthis declaring a maritime blockade on Saudi Red Sea ports, sparking concerns about the security of regional shipping lanes and the stability of energy supplies. The Bab al-Mandab Strait’s growing importance is underscored by Saudi oil exports, especially as disruptions continue around the Strait of Hormuz. This blockade has added another layer of complexity to the already fraught relationship between Saudi Arabia, which supports Yemen’s internationally recognised government, and the Iranian-aligned Houthi forces.

The resurgence in conflict is also exacerbating Yemen’s dire humanitarian situation. The United Nations has reported a sharp rise in displacement since July, with tens of thousands of people fleeing their homes due to the recent uptick in fighting. Many of these displaced individuals are now struggling to secure shelter in safer locations. Reports indicate that the latest hostilities have resulted in over 500 deaths, threatening to further destabilise the wider Red Sea region and deepen Yemen’s humanitarian crisis.

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