Houthis Claim Aramco Strike as Yemen Fighting Puts Yanbu Shipments at Risk

The Houthi claim of attacks on Saudi Aramco sites raises concern about Red Sea oil shipments from Yanbu as Yemen’s government begins an offensive against territory held by the group.

The Houthis said they launched missiles and drones at sites in Riyadh and the Khurais area in retaliation for airstrikes in Yemen. Their military spokesperson, Yahya Saree, said the operation hit its targets and caused fires. Saudi Arabia’s coalition spokesperson called the claim misleading, and Saudi authorities have not confirmed a strike.

Yanbu, on the Red Sea, handles shipments supplied by Saudi Arabia’s East-West Pipeline. Vessels on the route face added exposure to threats near the Bab el-Mandeb Strait. A longer trip around Africa’s Cape of Good Hope can add delivery time for cargoes bound for Asia.

Oil prices moved in opposite directions early Monday. At 7:38 a.m. ET (11:38 a.m. UTC), Brent was up 16 cents at $102.41 a barrel, while U.S. West Texas Intermediate was down 90 cents, or nearly 1%, at $90.21. The moves came during a volatile session and do not establish a market response to the strike claim.