Last month, a Houthi drone attack touched off a blaze at the kingdom’s Shaybah oil field, a site near the UAE border that produces about 1 million barrels of crude daily. In May, drones hit Saudi Arabia’s 750-mile East-West Pipeline, which links the country’s eastern production sites and the Red Sea. Initial reports linked that attack to Houthi rebels, but US intelligence later claimed the drones were launched from southern Iraq. The Iraqis strongly denied the charge.

Houthi attacks on Saudi targets will “expand and…be more painful” as long as the Saudi “aggression and siege continue,” Sare’e, the rebel spokesman, said.

The Houthis have control of the Yemeni capital, Sana’a, and since 2015 have been locked in fierce battle with a Saudi-led, US-backed coalition that is trying to reinstall a government administration recognized by the international community. Nearly 100,000 people have been killed in the fighting since 2015, according to figures from the Armed Conflict Location and Event Data Project.

Today’s attacks occurred right as the kingdom prepares to take Saudi Aramco public with an initial public offering expected to be the largest ever.

📬 Sign up for the Daily Brief

Our free, fast, and fun briefing on the global economy, delivered every weekday morning.