Oil prices soar above $108 as Houthis strike Saudi infrastructure

# Why This Matters The Houthi attacks on Saudi oil facilities represent a direct threat to global energy security, with immediate consequences for consumers worldwide. Saudi Arabia controls roughly 13 percent of global oil production, and any sustained disruption to its refineries or export terminals can drive up prices at the pump across the U.S., Europe, and Asia within days. Beyond energy costs, the escalation signals a dangerous expansion of the Houthi group's capabilities and willingness to target critical infrastructure, which could prompt Saudi Arabia and its allies to intensify military operations and draw in other regional powers. The group's control of strategic chokepoints also raises the specter of disrupted shipping routes and higher insurance costs for vessels, ultimately raising the price of virtually all goods that depend on maritime trade through the region.