Houthi attacks on Saudi energy facilities raise regional war fears

Fears of an escalating Middle East conflict have increased following widespread Houthi attacks on Saudi Arabia which included energy facilities and installations in the southern region.

Authorities said they are focused on managing the aftermath and safeguarding energy facilities and personnel. The Kingdom reported 73 civilians had been wounded in the cross-border attacks which were concentrated around Abha, Jizan, Khamis Mushait and Najran.  It marked a sharp escalation following the collapse of a long-standing UN-brokered truce.

The attacks impacted oil markets, with Brent crude prices climbing to $98 a barrel.

The latest escalation comes as the Iran war, into its seventh month, remains mired in deadlock. Italy utility Edison confirmed QatarEnergy has for LNG deliveries to early November, and Qatar and UAE operators have been engaged in as shipping continues to be at a standstill around the Strait of Hormuz.

In July, the Houthis threatened of Saudi Arabia, with the Bab el-Mandeb strait becoming another regional chokepoint.

Despite the ongoing challenges, industrial gas firms are remaining focused on market opportunities, with Gulf Cryo recently announcing an increase in .

Sami Huneidi, Executive Committee Member said as the region’s largest provider of liquid CO2, its strategy is to build strong local production capabilities while maintaining the flexibility and backup of its wider network.

“We will continue to invest ahead of demand, leveraging our regional scale and operational efficiencies to provide customers across the GCC with a reliable and cost-efficient CO2 supply,” he said.