Houthis strike Saudi oil cities, wounding 73 in expanded war

Yemen's Houthis attacked four southern Saudi cities with drones and missiles, wounding 73 people and igniting oil facilities.

Why it mattersOil supply disruptions from Middle East conflict push global prices higher, affecting fuel and energy costs worldwide.

AustraliaRising oil prices feed through to Australian petrol costs and energy bills; global economic uncertainty could slow Australian export demand.

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File image: Modern oil refinery with distillation towers and processing equipment under clear sky.

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Brent crude hits $101 as Middle East shipping attacks rattle Asian markets

Brent crude reached $101.4 a barrel after breaking $100 as Middle East attacks rattle Asian markets.

Why it mattersHigher oil prices typically lift inflation, which affects central bank interest rate decisions and can slow economic growth across major markets including Australia.