What happened
The price of Brent crude oil has reached a two-week high, exceeding $105 per barrel, due to increased fighting between Saudi Arabia and the Yemeni Houthis, a group aligned with Iran.
President Donald Trump has expressed consideration for joining Saudi Arabia's retaliatory strikes against the Houthis, following attacks on the main international airport in Riyadh.
Saudi Arabia has maintained a suspension of operations at the airport, resulting in empty skies over Riyadh on Monday.
Iran has offered to mediate between Saudi Arabia and the Houthis, warning that a military approach will further complicate the situation.
Regional experts note that while the Houthis are often described as a proxy of Iran, they act independently in pursuit of their own objectives.
A truce between the Houthis and the Saudi-backed Yemeni government forces, established in 2022, broke down in recent months, leading to a resurgence of fighting in Yemen and successful Houthi attacks on Saudi Arabia.
Iran's national security advisor has stated that Tehran would target digital infrastructure in the Gulf if fighting with the US resumes.
