Houthis fire on Saudi oil sites; no US strike on Iran for first time in two weeks
XLE•Oil prices rise as Trump signals possible escalation
The Houthis have declared a naval blockade of Saudi Arabia over the past week, and Houthi leader Abdul Malik al-Houthi said all Saudi oil facilities could be targets.
The move has contributed in recent days to one of the war's sharpest rises in global oil prices, with Brent crude LCOc1 spiking above $100 a barrel for the first time since May.
U.S. President Donald Trump on Friday vowed "major military punishment" for Tehran and the Houthis after the Houthis struck two Saudi tankers in the Red Sea.
An interim truce meant to end the war effectively collapsed two weeks ago, with U.S. forces striking targets in southern Iran in response to Iranian disruption of shipping in the Strait of Hormuz.
Trump has threatened in recent days to widen the range of targets to include Iran's energy plants and bridges, send ground forces to seize its oil hub of Kharg Island, and bomb a deep-underground nuclear-linked site known as Pickaxe Mountain.




