Houthi Attack and Diplomatic Collapse Threaten Global Oil Supply

Yemen's Houthi forces launched a major missile and drone attack on a Saudi airbase on Monday, coinciding with the postponement of Gulf-Iran talks aimed at reopening the Strait of Hormuz. The dual developments have left both of Saudi Arabia's primary oil export routes compromised, threatening global supply and sending crude prices surging. The Iran-aligned Houthis claimed to have fired dozens of missiles and drones at King Khalid Air Base in Khamis Mushait, targeting hangars, radar systems, runways, and ammunition depots. The group described the strike as retaliation for more than 300 Saudi airstrikes on Yemen over a five-day period. Saudi authorities issued emergency alerts in Khamis Mushait and three other southern cities. The attack came as Gulf foreign ministers canceled a planned meeting in Oman with Iran to discuss negotiations for reopening the Strait of Hormuz, a critical oil shipping lane largely blocked since the U.S. and Israel attacked Iran in late February. Oman's Foreign Minister, Sayyid Badr Albusaidi, announced the postponement "in the interests of consensus," while Iran stated the delay was at Saudi Arabia's request.