SHOCKING: 11 | Mind Blowing Facts

Saudi’s economic transformation collides with war and falling FDI

In this week’s Fortune Gulf Brief.

Fortune · Oct 7

Houthis target Aden airport with missiles as Yemen fighting intensifies

Yemen’s Iran-aligned Houthis launched two missiles towards Aden International Airport early Wednesday, as fighting intensified between the group and government forces backed by Saudi Arabia, officials said.

The Times of India · Oct 7

Houthis strike Saudi targets, Israel marks Oct. 7 anniversary and other Mideast developments

Yemen’s Houthi rebels claim they have attacked military facilities and airports in Saudi Arabia

The Independent UK · Oct 7

Yemen is spiralling into another civil war that could swiftly engulf in the entire region

The Middle East has seen many explosions of violence in recent years. But while the US-Iran war has grabbed the headlines this year, the rapidly escalating conflict between the Houthis and Yemen’s internationally recognised government and Saudi Arabia risks becoming just as consequential for the region.

The Conversation · Oct 7

flydubai pilot suffered depressed skull fracture while fighting off co-pilot who attacked him with axe

Captain Smit Machchhar sustained serious injuries during an attack by co-pilot Hammam al-Hammami in the cockpit. He suffered a depressed skull fracture that required emergency surgery for his recovery. After initial treatment in Saudi Arabia, he was transferred back to the UAE for further care. The Indian embassy has reported…

The Economic Times · Oct 7

Oil prices rise as storms and air strikes threaten supply

As a storm approaches key oil-producing areas in the US and tensions heighten in Saudi Arabia, oil prices are on the rise. The impending storm threatens to disrupt both production and refining processes, potentially affecting large quantities of crude oil and natural gas. Additionally, dwindling US crude and gasoline inventories…

The Economic Times · Oct 7

Crude Prices Rebound as Iran Ramps Up Ship Attacks in Hormuz

November WTI crude oil (CLX26 ) closed up +0.01 (+0.01%) on Tuesday, and November RBOB gasoline (RBX26 ) closed up +0.0270 (+0.83%). Crude oil and gasoline prices erased early losses on Tuesday and settled higher as short covering emerged on reports that Iran has ramped up attacks on tankers in...

Barchart · Oct 6

US House resolution honours Indian pilot Smit Machchhar for foiling flydubai cockpit attack

US Congressman Josh Gottheimer has introduced a House resolution honouring Indian pilot Smit Machchhar for helping prevent an alleged cockpit takeover aboard flydubai Flight FZ1073. The resolution also commends off-duty pilots, crew and passengers, condemns the incident as terrorism and calls for investigations by Saudi Arabia and the UAE.

The Economic Times · Oct 6

Crude Prices Pressured as More Oil Supplies Leave the Middle East

November WTI crude oil (CLX26 ) is down -1.27 (-1.42%) today, and November RBOB gasoline (RBX26 ) is down -0.0443 (-1.36%). Crude oil and gasoline prices are falling today, with crude oil dropping to a 1-month low. Signs that more crude supplies are leaving the Middle East are easing global...

Barchart · Oct 6

Middle East oil exports are recovering despite Strait of Hormuz tanker attacks, but the bigger problem is getting crude safely to buyers

Middle Eastern oil exports have significantly recovered as shipping companies navigate a complex transport network. While conventional methods remain risky, alternate routes are being utilized to ensure continuous oil movement. Oil producers are adjusting strategies, relying on pipelines and offshore transfers to circumvent dangerous waters. The shipping process has become…

The Economic Times · Oct 6