Iran warned on Sunday against any new major attack by the United States and its allies, saying it had information one was being prepared. Yemen's Houthis said Saturday they struck Riyadh and a major Saudi oil facility, nearly seven months into the US-Iran war.
Iran threatens retaliation against US bases
Iran's military central command said on state media that any new attack would trigger sustained retaliation against US bases and interests, and that Washington's regional allies would be treated as parties to the conflict. It did not detail the information it said it had about a coming US strike.
The US State Department issued a security alert on Saturday warning of potential for unforeseen escalation in the Middle East, telling Americans to be more vigilant and prepared for possible flight cancellations and airspace closures. Nearly seven months into the US-Iran war, neither side has shown readiness to make the concessions needed to end the fighting.
Houthi strikes hit Riyadh and Yanbu
Yemen's Iran-backed Houthis, who have made major advances along Yemen's Red Sea coast since the country's civil war reignited this month, said Saturday they carried out strikes in Riyadh and on a major oil facility in the Red Sea port of Yanbu. Reuters video showed a large plume of black smoke rising near Riyadh's main international airport after booms were heard overnight.
Saudi Arabia did not comment on the incident or the Houthi claims, though a Saudi-led coalition fighting the group said it had foiled other attacks on the kingdom. The Houthi gains along the coast now put the group's forces astride the Bab el-Mandeb Strait, giving them greater control over shipping between the Red Sea and Asia and the ability to blockade the waterway.
Oil flows squeezed on two fronts
With Iran already having blockaded most shipping through the Strait of Hormuz, the Gulf's energy exports are now almost entirely cut off from global markets, adding pressure to oil prices. A US blockade of Iranian ports is, in turn, stopping Iran from selling its own oil, contributing to major problems in the country's economy.
There is little sign of a return to the interim ceasefire agreement struck in June, which fell apart in July amid disputes over its terms. Iran reiterated Sunday that it will not reopen the Strait of Hormuz until the terms of that agreement, as it interprets them, are met. Iranian Parliament Speaker Mohammad Baqer Qalibaf said Iran would have to keep fighting as well as negotiating to push back its enemies while consolidating any gains through diplomacy.
Source: Reuters
Trading involves risk.
Risk Disclaimer
