Major Gulf markets fell on Thursday as Houthi threats against Saudi Arabia sparked investor fear. The group pledged to keep attacking oil facilities after a strike hit Aramco’s headquarters. Brent crude prices also dropped as shipping risks grew near the Strait of Hormuz, worrying experts about the region's economic future.
Oct 15 (Reuters) - Major Gulf markets buckled in early trade on Thursday as the Houthis threatened more attacks on Saudi Arabia, putting the country's benchmark index on track for a sixth weekly loss.
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On Wednesday, Yemen's Houthis pledged to keep attacking airports and oil facilities in the kingdom. The threat came a day after a Houthi strike caused extensive damage to Aramco's headquarters in Dhahran, where a fire spread across several floors, three people with direct knowledge of the matter told Reuters.
Brent crude futures fell $2.28, or 2.2%, to $103.78 a barrel by 0729 GMT.
Shipping risks are also growing. A container ship and a dry bulk carrier sank near the Strait of Hormuz within 24 hours after projectiles hit them in separate incidents, maritime officials said on Wednesday.
On Thursday, the International Monetary Fund warned a long war in the Middle East, and further disruption to energy production, shipping routes or critical infrastructure posed the biggest risk to economies in the Middle East and Central Asia.