• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 50 mins How Far Have We Really Gotten With Alternative Energy
  • 9 days What fool thought this was a good idea...
  • 7 days A question...
  • 12 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 13 days They pay YOU to TAKE Natural Gas
  • 18 days The United States produced more crude oil than any nation, at any time.
Editorial Dept

Editorial Dept

More Info

Premium Content

Why Geopolitical Tensions Have Spiked In The Middle East

Geopolitical Tensions

Picking up from where we left off last time on geopolitical drivers that could send oil prices higher, the Iranian-backed Houthis in Yemen have upped the ante with an attack on the UAE, which had largely withdrawn forces from Yemen, leaving the Saudis high and dry. 

Now, there is a risk they will be pulled back into the melee after the Houthi rebels launched a drone attack on a key oil facility in Abu Dhabi, killing three people and starting a fire at the Emirate’s international airport. The site of the attack was an industrial zone where ADNOC operates its pipeline network and oil tanker storage facility. The industrial zone is adjacent to the international airport. 

It’s not the first time that the Houthis have targeted the UAE, but it is the first time since the UAE largely backed out of Yemen. 

The problem is that the UAE hasn’t entirely withdrawn support for the Yemeni government, even if it has pulled out its own troops. The Houthi message to the UAE has already resulted in an escalation on the part of the Saudis, who led coalition airstrikes on Yemen’s capital, Sana’a on Tuesday–just a day after the Houthi attack on the UAE. 

But this isn’t just about Yemen. It’s about Iraq, too–another area where Iran wants the UAE to stop meddling. The bigger issue, however, is the UAE’s attempt to make peace with Israel and achieve detente with Iran simultaneously. This is where the Saudis have been more … cautious. 

Things are about to get even messier…

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News