Houthi Attacks Hit Riyadh and Abha Airports, Killing Three; Tanker Strike Lifts Oil

Houthi attacks escalated dramatically, striking airports in Riyadh and Abha and killing three people. A tanker was also attacked deep in the Persian Gulf for the first time in weeks, underscoring elevated regional tensions. The assaults mark a significant escalation in the conflict, potentially drawing in broader international involvement. Oil prices moved higher on the news, as markets priced in supply risks. Meanwhile, Iraq devalued its dinar by around 13% as disruptions in the Strait of Hormuz hit its oil exports, adding to the country's economic woes. Asian stocks fell for a second day, and US equities retreated from an all-time high. China stocks fluctuated as investors assessed holiday spending data, while Singapore shares posted losses. The global market reaction reflects growing anxiety over geopolitical instability and its potential to derail economic growth.