Tensions in the Red Sea escalate again as Houthi rebels launch large-scale attack on a Saudi airbase.

The Houthi rebels in Yemen launched a large-scale missile and drone attack on key Saudi military facilities, and coupled with severe damage to Saudi Arabia's East-West oil pipeline, the global energy supply is facing multiple shocks, causing oil prices to surge.

According to Xinhua News Agency , Al-Masirah TV, controlled by the Houthi rebels in Yemen, reported on the 14th that the group launched dozens of ballistic missiles and drones at the King Khalid Air Base in the southwestern Saudi Arabian city of Khamis Mushait. Houthi spokesman Yahya Sarreya stated that the targets were fighter jet hangars, radar systems, runways, ammunition depots, and other facilities within the base, and that the attack was "precise and direct, causing significant damage."

Meanwhile, Saudi Arabia’s East-West oil pipeline was forced to shut down due to an attack on its pumping stations . According to Reuters, citing Saudi oil traders, if the pipeline cannot be restored to operation within days, Saudi Arabia’s export stocks will be depleted, affecting about 4% of global oil supply.

Following the aforementioned news, international oil prices rose, with Brent crude surging over 4% to $109.18 per barrel. According to a previous Xinhua report, the regional meeting originally scheduled for the 14th in Salalah, a city in southern Oman, has been postponed. Negotiations on navigation through the Strait of Hormuz have once again stalled, further exacerbating market concerns about Middle Eastern energy routes.

Attacks escalate: Houthi rebels launch strikes in retaliation for Saudi airstrikes.

According to Xinhua News Agency, Sarreya stated that the operation was in retaliation for Saudi Arabia's escalating airstrikes against Yemen. Recently, Saudi Air Force F-15 and Typhoon fighter jets have launched more than 300 airstrikes against several Yemeni provinces from air bases in Khamis Mushait and Taif.

On March 14, Saudi Arabia's General Directorate of Civil Defense issued security alerts to several cities in southwestern Saudi Arabia near the Yemeni border. Residents of cities including Khamis Mushait and Abha received security tips via mobile phone between late March 13 and early March 14.

On the 13th, Sarreya also stated that in the past 24 hours, Saudi Arabia launched 58 airstrikes against six provinces in Yemen, affecting most of the country. The airstrikes were carried out by F-15 fighter jets that took off from King Khalid Air Base.

Control of the Bab el-Mandeb Strait: Houthi rebels expand threat to Red Sea shipping

The attack occurred just as the Houthi rebels completed their strategic advance in western Yemen. The group reportedly seized control of the remaining western coastline of Yemen over the weekend and captured Perim Island in the Bab el-Mandeb Strait, further solidifying their control of this crucial southern Red Sea shipping lane.

According to reports, following this advance, the Houthi rebels' controlled area is now only about 32 kilometers from the main US military base in Djibouti. This geographical shift not only expands the Houthi rebels' influence over Red Sea shipping but also increases the risk of a regional military standoff.

The Houthi rebels claimed the blockade was a response to the Saudi-led coalition's blockade of their controlled areas, and asserted that the blockade was limited to Saudi vessels. However, shipping companies remained generally vigilant, with many ships opting to detour around the Cape of Good Hope in Africa, adding at least 20 days to the journey and further increasing transportation costs and straining global supply chains.

Pipeline Attack: Saudi Oil Exports Face Supply Risk

Beyond the military conflict, the closure of Saudi Arabia's East-West oil pipeline is exacerbating concerns about global oil supplies. This pipeline connects Saudi Arabia's eastern oil-producing region with the port of Yanbu on the Red Sea coast. With passage through the Strait of Hormuz blocked, it is a crucial route for Saudi Arabia to bypass the Gulf and maintain its oil exports.

The pipeline shutdown was reportedly caused by a destructive attack on the pumping station. Saudi oil traders warned that if the pipeline cannot be restored to operation within days, Saudi export inventories could be quickly depleted, potentially reducing global oil supply by about 4%.

The supply-side buffer is already limited. Prior to the attack, Saudi oil inventories had fallen to their lowest level in nearly 30 years; the report, citing sources, indicated that repairs to the damaged pumping stations could take five to six weeks, meaning the supply risk could persist for longer.

Meanwhile, diplomatic efforts to de-escalate tensions also suffered a setback. The meeting of foreign ministers from Iran and the Persian Gulf states, originally scheduled for Monday in Oman, was postponed. Iranian Foreign Ministry official Mohammad Ali Bak stated that, at the request of some regional countries, and as jointly decided by Oman and Iran, the meeting would be postponed to a later date.

The meeting was originally scheduled to discuss a proposal for joint management of navigation in the Strait of Hormuz by Iran and Oman. The postponement signifies that, with shipping risks rising simultaneously in both the Red Sea and the Strait of Hormuz, regional diplomatic efforts have yet to yield substantial progress.

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