Iran-backed Houthi rebels in Yemen launched a major attack on southwestern Saudi Arabia early Tuesday, targeting oil and other infrastructure in an escalation that risks widening the region’s conflicts and adding further pressure to crude prices.

Iran warned on Monday that it could target U.S. oil and gas interests in the Gulf if the U.S. launches any new attacks on its assets. Responding to U.S. Defense Secretary Pete Hegseth The latest flare-up began Saturday,