Houthi missiles reach Riyadh's airport and a tanker is hit off Qatar. Oil jumps again before the ASX opens
Yemen's Houthis said they fired a ballistic missile at King Khalid International Airport in Riyadh on Thursday, the second strike they have claimed on the Saudi capital since September 19. The Saudi-led coalition said it destroyed two ballistic missiles aimed at the city; Saudi authorities said shrapnel fell after the interception and debris landed on a medical complex. Reuters reported smoke from a stationary aircraft at the airport, thought to be empty. Earlier the BBC reported a tanker hit by multiple projectiles in the Gulf off Qatar, and the FT said oil jumped on that attack and on slowing flows through the Strait of Hormuz. The Houthis warned workers at Saudi oil sites and renewed warnings to airlines. AP and Bloomberg reported US share futures falling. On Thursday the S&P/ASX 200 closed down 0.77 per cent at 8,660.9; the Australian dollar was near 69.7 US cents early Friday.
Saudi Arabia is one of the few producers with spare capacity, and the Strait of Hormuz carries a large share of the world's oil. Attacks on both at once raise the price of insurance, shipping and fuel everywhere, including Australia, which imports most of its refined fuel.
Expect petrol and diesel prices to follow crude within a week or two. If you hold Australian shares through super, energy producers may gain while airlines, transport and rate-sensitive stocks lose.
Markets are pricing a real risk: each strike on Saudi soil or a tanker narrows the buffer that keeps oil flowing.
Most attacks have been intercepted or caused limited damage, and oil has learned to live with the war; prices could ease quickly on any diplomatic progress.
Watch three things today: whether Gulf shipping reports further attacks, whether Iran answers the US proposal, and how the ASX treats energy versus AI stocks. A settlement price for Brent above Thursday's level would confirm the shock; we have not confirmed it yet.
DailyDrop Australia edition No. 5 · Morning · FRI., OCT. 9, 2026