Iran-backed attacks threaten a second major oil chokepoint as new risk emerges for US consumers

Iran-backed Houthi rebels struck Saudi Arabia with dozens of ballistic missiles and drones Tuesday, hitting multiple energy targets, including the facilities of the world's largest oil company.The attacks on Aramco, the state-owned national oil company of Saudi Arabia that produces 10 million barrels of oil per day, threaten to tighten pressure on a second critical oil route as the Middle East war continues to restrict shipping through the Strait of Hormuz.Aramco notably supplies roughly 10% of the world's total oil demand.And attacks on its facilities raise the risk of higher oil, shipping and transportation costs that could hit U.S.

consumers in coming months — just in time for the 2026 midterm elections.IRAN CALLS ON HOUTHIS TO PREPARE TO CUT OFF RED SEA GATEWAY — CAN THE TERROR GROUP DO IT?Houthi supporters chant slogans during an anti-U.S.and anti-Israel rally in Sanaa, Yemen, Monday, March 17, 2025.

(AP Photo/Osamah Abdulrahman)The attacks hit the southern Saudi Arabian cities of Jazan, Najran, Abha and Khamis Mushait, wounding 73 people and sparking fires at energy facilities and utilities that temporarily forced some operations to stop, according to Saudi officials.The Jazan site includes a refinery capable of processing roughly 400,000 barrels of crude per day, according to the Associated Press.Tuesday's strikes land at a particularly vulnerable moment for global energy markets.

With oil flows through the Strait of Hormuz sharply reduced, Saudi Arabia has redirected more crude toward the Red Sea — increasing the importance of the Bab el-Mandeb, where the Houthis have already threatened and attacked Saudi-linked shipping.The Energy Information Administration estimates that just 4.9 million barrels of oil and petroleum liquids moved through Hormuz per day in the second quarter of 2026, down from 21.6 million barrels per day before the conflict.Before the conflict 20% of the world's oil moved through the consequential waterway.Traffic through the Bab...