Houthis Say They Hit Saudi Arabia's Largest Refinery as Washington Tells Gulf Allies to Prepare for an Iran Campaign After the Midterms

Yemen's Houthi movement said on Tuesday that it struck Ras Tanura, Saudi Arabia's largest oil refinery, with a ballistic missile. Yahya Saree, the group's military spokesman, said on X that the missile hit its target and caused large fires, Anadolu Agency reported. Saudi authorities had not confirmed a strike on the 550,000 barrel-per-day facility, according to Reuters reporting carried by Investing.com. The Houthis have launched missiles and drones at Saudi airports, oil sites and military facilities since July, and the pace of attacks increased in October.

Crude prices reversed course on the claim. Brent futures rose $1.48, or 1.3%, to $115.36 a barrel early on Wednesday, and US West Texas Intermediate rose $1.22 to $101.12, Business Recorder reported. Brent had fallen nearly $2 on Tuesday after diplomatic contacts eased concerns about supply. OilPrice also cited falling inventories and reports that the United States is preparing a new military campaign against Iran.

That second report matters more for prices in the weeks ahead. The Wall Street Journal reported that Washington has told several Gulf Arab governments to prepare for a short but intense campaign against Iran after the November 3 midterm elections. Russian state broadcaster RT and TASS both carried the report prominently. According to investingLive's summary of the Journal's reporting, the warnings went through diplomatic and military channels. The report says President Donald Trump has not made a final decision but leans toward a large-scale attack that could target Iranian infrastructure and nuclear sites. The Pentagon has withdrawn personnel from exposed bases, and US forces are restocking munitions. Euronews Persian reported that the White House has ruled out a strike before the vote and that the cost of the war has passed $47 billion.

Tehran has responded through mediators. Iranian outlet Asr Iran reported, in Persian, that Iran warned it would not limit retaliation to US bases and warships if the United States and Israel attack again. Iran said its targets would include airports, pipelines and other civilian infrastructure in Gulf states. At the United Nations, Pakistan said the situation around Iran's nuclear program has deteriorated sharply. It urged all sides to show restraint and noted divisions within the Security Council, Dawn reported.

The accounts differ in emphasis. Western reporting presents the campaign as pressure meant to bring Tehran back to talks. Russian state outlets present it as evidence of Washington's intent to escalate. Iranian outlets stress what Iran would do in response. The Houthi damage claim is unverified, and claims from every party in this conflict warrant caution.