Houthis launch second day of missile and drone strikes on southern Saudi cities
The Saudi‑led coalition reported that Houthi forces hit Abha, Khamis Mushait and Jazan with missiles and drones for the second consecutive day, targeting an airbase and oil installations.
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Desk Analysis
How This Affects the Exchange
Sector Effect
Positive · Buy bias
Oil & Gas sector likely to benefit from higher crude prices, creating a buy bias for related tickers.
Sectors & Direction
Desk read
Desk call: Buy bias · Positively affected
- Oil & GasPositively affected
Companies
Mentions in This Briefing
Sectors: Oil & Gas — Positive · Buy bias. PSX tickers: OGDC, HOC, PPL. Oil & Gas sector likely to benefit from higher crude prices, creating a buy bias for related tickers.
Full Story
Open on Business Recorder## Attack Overview
The Houthi movement fired ballistic missiles and drones at the southern Saudi cities of Abha, Khamis Mushait and Jazan on Wednesday, according to a statement from the Saudi‑led coalition in Yemen. The strikes marked the second straight day of attacks on Saudi territory.
## Targets and Damage
The coalition spokesperson, Turki al‑Malki, said the Houthi offensive focused on Saudi national assets and infrastructure. An airbase in Khamis Mushait and nearby oil infrastructure were hit, following similar attacks the previous day that wounded 73 people and set oil facilities ablaze. Saudi civil defence lifted alerts in Khamis Mushait and Abha after the incidents.
## Regional Context
The attacks come amid an escalation of fighting between Saudi Arabia and the Houthis, who are allied with Iran. The Houthis have also declared a naval blockade of Saudi Arabia in the Red Sea, prompting retaliatory strikes by the Saudi‑led coalition on Houthi positions in Yemen. Recent Saudi‑backed Yemeni government offensives aim to recapture Houthi‑held areas.
## Market Implications
The renewed hostilities have pushed global oil prices higher, as Saudi oil facilities are perceived to be at risk. Higher crude prices generally benefit oil‑exporting companies listed on the Pakistan Stock Exchange, while increased geopolitical risk can add volatility to the broader market.
## Outlook
The coalition pledged to respond “responsibly” to protect Saudi sovereignty and civilian lives. Continued attacks could keep oil markets on edge, influencing investor sentiment toward energy stocks on the PSX.