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Saudi Aramco Building Hit as Houthi Attacks Intensify. Saudi Arabia’s stock market fell on Wednesday after an attack on a Saudi Aramco facility heightened concerns over the escalating conflict between the kingdom and Yemen’s Houthi rebels. The benchmark index dropped 0.7%, with shares in Saudi National Bank, the country’s largest lender by assets, falling 1.3%, while oil giant Aramco lost 0.5%. Saudi Arabia’s Energy Ministry said an administrative building belonging to the state-owned oil company in Dhahran was hit, causing a limited fire but no reported casualties. The attack comes amid a wave of Houthi missile and drone strikes against Saudi targets, launched in retaliation for Riyadh’s support for Yemeni government forces. Riyadh’s international airport has been targeted four times in the past week, including a strike on Saturday that killed 13 people. Debris from two intercepted missiles also fell on residential areas of the Saudi capital, injuring four people and damaging 15 homes, according to Saudi authorities. Elsewhere in the Gulf, Qatar’s benchmark index slipped 0.4%, weighed down by a 1.4% decline in petrochemical producer Industries Qatar. There have also been reports that Iran was adopting new tactics to target shipping in the Strait of Hormuz to keep oil prices high and influence the US midterm elections.
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