Saudi Arabia intercepts six Houthi missiles as oil rises about 3% to one-week high

Saudi Arabia intercepted six ballistic missiles fired by Iran-backed Houthis, which the Saudi-led coalition said were aimed at Taif and Yanbu on the Red Sea, the kingdom’s main alternative oil export route. Crude climbed about 3% to a one-week high on fears of supply disruption as Red Sea exports are threatened while the Strait of Hormuz remains disrupted; prices eased after reports of US-Iran talks on reopening the strait. The Houthis, who seized Yemen’s western coast nearly two weeks ago and declared a naval blockade on Saudi Arabia in July, also claimed strikes on Riyadh and Saudi Aramco facilities. Damage and casualties were unclear.