Oil prices extend gains as Yemen's Houthis threaten broader Saudi operation after attacks hit energy sites

Crude oil prices extended gains following reports that Yemen's Iran-backed Houthi rebels launched drone and ballistic missile strikes targeting several energy facilities and military sites across southern Saudi Arabia. The attacks hit Saudi Aramco installations in Abha, Najran, and Jizan, causing fires and temporary operational shutdowns, while leaving at least 73 people injured according to coalition reports. The Houthis also threatened a broader military operation deeper within Saudi territory in retaliation for recent Saudi military actions in Yemen. The escalation significantly heightens supply disruption risks given Saudi Arabia's standing as the world's leading crude oil exporter. From a technical perspective, WTI crude oil has broken above its July peak to reach its highest level since June. Analysts indicate that the next technical resistance target sits near the 97.00 level, with potential for prices to make a run toward $100 per barrel if Middle East tensions continue to escalate.