The Current Affairs Digest · ages 15+ · 2026-10-20
Houthi Attacks Push Brent Crude Above $109
Saudi Arabia postponed its flagship investor conference to 2027.
The Houthis, an armed group from Yemen, have kept attacking Saudi Arabia. On October 10 a strike hit King Khalid International Airport in Riyadh. Saudi Arabia says at least 12 people were killed and more than 300 wounded. A fresh strike the following day killed one person, a Pakistani resident, and wounded 11, according to Saudi civil aviation authorities. The Houthis said airports across the kingdom were a “theatre of operations for our forces.”
The economic effects are widening. After the Houthis claimed attacks on Saudi airports and facilities of the oil company Aramco, Brent crude, the benchmark price for internationally traded oil, rose above $109 a barrel. UK maritime monitors said two tankers were attacked off the Saudi coast in the Persian Gulf on Friday.
Investment plans are shifting as well. On Monday Saudi Arabia postponed the Future Investment Initiative conference, due on October 26 to 29, until 2027. In Riyadh, the Kingdom Centre office tower ordered all office staff to work remotely.
Why it matters
Saudi Arabia is a giant oil producer. A threat to its airports and oil sites moves the global oil price, which feeds into fuel and transport costs everywhere, including India.
THE RED SEA. Saudi Arabia and Yemen sit on the eastern shore of the Red Sea.