Catch-up

The Houthi missile-and-drone strike on Riyadh and Saudi oil facilities on September 20 is the week's most consequential development: it directly threatens global oil supplies, with Saudi Aramco already cutting European shipments, and marks a sharp Middle East escalation as Trump simultaneously approved F-35 sales to Saudi Arabia and signed sweeping Russia sanctions. Watch next week whether oil markets spike further and whether Saudi Arabia retaliates, potentially pulling the US deeper into regional conflict.