Houthis Strike Saudi Base; Iran Denies Role as Strait Threats Mount

Houthi drone and missile attacks on a Saudi base escalate, while Iran denies involvement in Yemen. Houthi control of Bab el-Mandeb and Iranian threats to the Strait of Hormuz complicate Saudi oil exports, supporting crude prices. The denial is likely rhetorical, as Iran's proxy support is well-documented, but the direct impact on oil flows remains uncertain.