WS #12831
Multiple sources report Houthi drone attacks on Saudi oil facilities, including Abqaiq and Jazan port, with Saudi air defenses intercepting drones from Iraq; this is an ongoing escalation but is being partially offset by US-Iran de-escalation signals. Reports that the U.S. and Iran could resume negotiations and that Iran will stop military strikes if the U.S. refrains from bombing have triggered a sharp pullback in crude oil prices (WTI -6.3%, Brent -6.8%) and a selloff in energy stocks, countering the prior bullish oil thesis from Houthi drone attacks.
Houthi Drone Attacks on Saudi Oil Infrastructure Continue
Multiple sources report Houthi drone attacks on Saudi oil facilities, including Abqaiq and Jazan port, with Saudi air defenses intercepting drones from Iraq; this is an ongoing escalation but is being partially offset by US-Iran de-escalation signals.
Reports that the U.S. and Iran could resume negotiations and that Iran will stop military strikes if the U.S. refrains from bombing have triggered a sharp pullback in crude oil prices (WTI -6.3%, Brent -6.8%) and a selloff in energy stocks, countering the prior bullish oil thesis from Houthi drone attacks.