Iran War Spreads to Red Sea; Houthis Attack Saudi Oil, US Pauses Strikes

The Iran war broadened over the weekend, with Yemen's Iran-aligned Houthis targeting Saudi oil installations in Jizan and Yanbu along the Red Sea coast, threatening vital energy supplies and shipping routes. This escalation occurred despite a pause in US strikes, though the US naval blockade against Iran remains. The attacks, coupled with the breakdown of Yemen's ceasefire, raise concerns about expanding conflict and its impact on global energy supplies and the economy. This geopolitical tension and potential for higher crude oil prices could boost safe-haven demand for gold and exert pressure on Pakistan's import bill and the PKR.

بحوالہ / Source: www.brecorder.com