saudi arabia launched covert attacks on iran as regional war widened sources say

The direct military confrontation between Saudi Arabia and Iran, along with broader regional escalation, threatens oil and gas production and transit in the Persian Gulf and Strait of Hormuz. This creates a supply disruption risk for global crude oil and LNG markets, impacting energy prices and shipping insurance premiums. The de-escalation agreement may reduce immediate risks, but the event underscores geopolitical instability in a key energy-producing region. The impact is global for energy markets, with specific regional exposure for Gulf states and EM markets.