Tensions flared as Yemeni government forces, backed by roughly 100 Saudi fighter jets, launched a major offensive to reclaim territory lost to the Houthi rebels. In response, the Houthis launched ballistic missiles and drones targeting Saudi infrastructure and major airports. While Saudi officials have disclosed few details on the full extent of the impact, several facilities sustained damage.
Fighting has concentrated near the Bab el-Mandeb Strait, a crucial choke point for global energy shipments passing through the Red Sea. Although Houthi forces pledged to spare commercial vessels not associated with Saudi Arabia, Saudi forces continue pushing Yemeni troops to secure the passage.
To bypass the high-risk strait, Saudi Arabia redirected oil through its East-West Pipeline to the Red Sea port of Yanbu, delivering 5.8 million barrels per day by Tuesday and restoring overall supply flows to 81% of pre-war levels.
In the United States, soaring fuel prices have created significant political pressure for the ruling Republican Party ahead of the midterm elections. With diesel reaching $6.26 per gallon, consumers face severe economic pressure that eased only slightly after the G7 reserve release.
In the United States, soaring fuel prices have created significant political pressure for the ruling Republican Party ahead of the midterm elections. With diesel reaching $6.26 per gallon, consumers face severe economic pressure that eased only slightly after the G7 reserve release.
To mitigate the shortage, President Trump issued an executive order permitting commercial truckers to temporarily use red-dyed diesel, a fuel normally restricted to agricultural use. While President Trump expressed confidence that oil prices will fall shortly after the elections, market analysts remain skeptical.
