Country: SA | Published: 2026-09-16
Saudi markets stay locked on the security picture, with a Houthi drone downed near Mecca and loadings suspended at Yanbu, forcing cargo cancellations to European and Asian buyers a
Saudi markets stay locked on the security picture, with a Houthi drone downed near Mecca and loadings suspended at Yanbu, forcing cargo cancellations to European and Asian buyers as export routes narrow. Oil prices show a tug of war, jumping on the supply disruption even as rising US crude inventories pulled prices back down. Diplomacy is deepening, with Riyadh and Cairo demanding an open Red Sea, intelligence-sharing talks with Israel, and India condemning the attacks on shipping lanes near Bab el-Mandeb.