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- Defending Saudi Arabia is essential to protecting the global economy
The article argues that Saudi Arabia's security is a strategic concern for the global economy, as attacks on airports and oil refineries threaten energy supplies worldwide. On October 10, a Houthi missile reportedly struck King Khalid International Airport in Riyadh, killing 13 people and injuring more than 300. With the Strait of Hormuz disrupted during the Iran war, the East-West Pipeline became a key alternative route, carrying about 4 million barrels per day before drone attacks forced its temporary closure in September. The piece says geopolitical risk pushed Brent above $100 per barrel, burdening consumers and airlines, and it cites Greece's Patriot deployment as a model for partner contributions, calling for a broader, shared defense effort.
- The Diesel Crunch Will Persist Well Into 2027
Even as crude oil flows out of the Strait of Hormuz recover, the global diesel shortage persists because refinery output in the Middle East and Russia remains constrained and other suppliers cannot fully offset the loss. Diesel prices hit records in mid-September, and the G7's promised release of 100 million barrels offers no easy fix. The IEA expects the crunch to extend into mid-2027, as gasoil supply falls short of demand and inventories are unlikely to be rebuilt before the second half of 2027. Global diesel exports fell 700,000 bpd in September from a year earlier, and diesel accounts for 25% of the expected 2.6 million bpd drop in global oil demand this year. Diesel prices have eased from September's peak above $200 a barrel but remain nearly double crude prices.
- Brent crude hovers near $109 a barrel as Ukraine resumes energy strikes, tankers attacked in Middle East
Crude oil prices hovered near recent highs on Sunday as traders weighed Ukraine's strikes on Russian oil facilities and more tanker attacks in the Persian Gulf. Brent fell $1.04 to $108.82 a barrel, while U.S. West Texas Intermediate lost 26 cents to $101.15. Fires broke out at an oil terminal and depot in St. Petersburg after a massive Ukrainian drone attack; the terminal exports about 120,000 barrels per day of refined products, but the extent of the damage is unclear. Ukraine had briefly paused energy strikes after Trump announced a truce on Oct. 11, but Russia kept hitting Ukrainian energy infrastructure, so Zelenskyy said Kyiv would resume strikes on Russian facilities. Two tankers were also attacked off Saudi Arabia on Friday, according to UKMTO, amid Iran's escalating attacks on tankers aimed at choking off regional crude exports.
- Egypt says ready to give Saudi Arabia necessary support amid Houthi conflict
Egypt said on Sunday, October 18, that it is ready to give Saudi Arabia all necessary support to defend its security and stability, as Iran-aligned Houthis step up attacks on the world’s largest oil exporter. President Abdel Fattah al-Sisi asked for an urgent parliament session to authorise the military to help defend Saudi Arabia should the kingdom request it, though the vote was expected to continue on Monday. The Houthis have recently attacked Riyadh’s international airport and Saudi Aramco, amid renewed fighting with Saudi-backed government forces after a truce collapsed. Egypt and Saudi Arabia are close strategic and economic partners, and Egypt joined the Saudi-led coalition in Yemen in 2015 but played only a limited combat role.
- Egypt says ready to give Saudi Arabia necessary support amid Houthi conflict
Egypt's presidency said it is ready to provide Saudi Arabia with all necessary support to defend its security, stability, resources, territorial integrity and Islamic holy sites, as Iran-aligned Houthis intensify attacks on the world's largest oil exporter. President Abdel Fattah al-Sisi asked for an urgent parliamentary session to authorise military support should Saudi Arabia request it, and the expected Sunday vote was set to continue on Monday. The Houthis recently struck Riyadh's international airport and Saudi Aramco amid renewed fighting after a truce collapsed. Egypt and Saudi Arabia are close strategic and economic partners, and Egypt had previously joined the Saudi-led coalition in Yemen with a limited combat role.
- Egypt says ready to give Saudi Arabia necessary support amid Houthi conflict
Egypt's presidency said it will give Saudi Arabia all necessary support to defend its security, stability, resources and Islamic holy sites as Iran-aligned Houthis step up attacks on the world's largest oil exporter. President Sisi requested an urgent parliament session to authorise military help should Riyadh ask, and a Sunday vote was expected to continue into Monday. The Houthis recently attacked Riyadh's international airport and Saudi Aramco after a truce collapsed and fighting with Saudi-backed government forces resumed. Egypt and Saudi Arabia are close strategic and economic partners, and Egypt previously played a limited combat role in the Saudi-led coalition in Yemen.
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