Oil hits 3-1/2-year high after U.S. quits Iran deal

10 May, 2018, 00:38 | Author: Rachel Logan
  • Jerusalem

The latest missile attack comes after a months-long campaign by Shiite rebels in Yemen to strike Riyadh.

Yemen's Houthi militia said it fired missiles at "economic targets" in Saudi capital Riyadh on Wednesday, the group's official channel al-Masirah TV reported.

Maliki added that the attempted missile strike was an explicit violation of two United Nations resolutions and was a threat to the security of Saudi Arabia and global security.

Maliki blamed the attack on "militiamen and terrorists, vassals of Iran" who try to "threaten the security of Saudi Arabia, the region and the world".

"Our air-defense systems intercepted two ballistic missiles over Riyadh and a third that was sacked toward Jizan", the Al-Ekhbariya television channel reported, according to Anadolu Agency (AA).

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Two explosions were heard in the city, according to an Agence France-Presse photographer.

Saudi forces have intercepted Houthi missiles several times since March 2015, when a Saudi-led coalition launched a war against the rebels and their allies after they captured much of northern Yemen, including the capital, Sanaa.

Saudi Arabia is monitoring the impact of the USA withdrawal from the Iran nuclear deal on oil supplies and is ready to offset any shortage but it will not act alone to fill the gap, an OPEC source familiar with the kingdom's oil thinking said.

Oil-rich Saudi Arabia has long said it would match any Iranian weapons development, but Jubeir's renewed vow came after US President Donald Trump pulled the United States out of an accord created to prevent Tehran's alleged quest for the bomb.

Saudi Arabia and other US allies queued up on Wednesday to praise Trump's decision, as did Yemen's internationally-recognised government, which has been forced into exile by Houthi advances.

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