10,376TASI · Oct. 8 close · −1.57%

DailyDrop.

3.75USD/SAR · official pegged rate (not a live rate)
TASI10,376.00▼1.57%10/8USD/SAR3.75-0.00%10/8S&P 5007,765.36▼0.47%10/8WTI$91.50▲3.60%10/8Gold$4,157.00▲0.20%10/8
Saudi Arabia · SecurityPress ✓ 5 outlets · Houthi claims attributed to them

Houthis announce missile strike on King Khalid Airport and warn airlines; coalition says it intercepted two missiles

Explosions were heard in Riyadh on Thursday, the airport was closed and flights were disrupted, while the coalition said it intercepted two ballistic missiles. We have not confirmed the extent of the damage.

The Houthis announced on Thursday, October 8, that a ballistic missile struck King Khalid International Airport in Riyadh, and issued what they called a “final warning” to airlines against operating in Saudi airspace, excluding the airspace of Mecca and Medina, according to the Associated Press and AeroCorner. Several explosions were heard in the capital, including a large one at the airport, according to the agency.

The Saudi-led coalition said it intercepted and destroyed two ballistic missiles launched toward Riyadh. Saudi authorities have not confirmed the extent of the damage. The Associated Press and Aerotelegraph reported that a Saudi Arabian Airlines aircraft was hit or burned while parked at the terminal; the authorities have confirmed neither this nor its cause.

Etihad Airways announced an extended delay to its Abu Dhabi–Riyadh flight because of the airport closure, and flydubai cancelled flights 855 and 856, according to Khaleej Times. The General Authority of Civil Aviation had announced three dead and 36 injured in attacks on Abha and Riyadh airports on October 6 and 7.

In DailyDrop’s reading, the warning to airlines turns the matter from scattered attacks into pressure on air traffic itself, and its effect may extend beyond Saudi Arabia to flights across the region. Today, Friday, we are watching: whether the airport reopens, the authority’s statements, airlines’ decisions, and the coalition’s response.

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By the numbers
2ballistic missiles intercepted by the coalition, according to its statement
36injured in the October 6 and 7 attacks, according to the General Authority of Civil Aviation
3killed in the same attacks, according to the authority
Oil · MarketsClosing data · Brent from two reports

West Texas Intermediate jumps 3.6% to $91.50 after the airport attacks, and Brent near $104

West Texas Intermediate closed on Thursday, October 8, at $91.50, up 3.6%, its highest close this week, after $88.28 on Wednesday. An IB Times report said Brent rose about 3.8% to near $104, linking the rise to the Houthi attacks on Saudi airports, the Saudi response and renewed tension between Washington and Tehran.

We did not obtain an official closing price for Brent, and did not find a second confirmed source for the cause, so we present it as the report states it. Thursday’s rise means oil erased all of the losses of Wednesday, Monday and Tuesday.

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Word of the day
BrentEnergy

A global benchmark crude by which most of the world’s oil is priced.


Yemen · SecurityPress ✓ 4 outlets · Yemeni army figures cannot be verified

Yemeni army: 1,860 Houthis “taken out of the battle” in 2,103 operations, up from 1,747 in 1,122

The Yemeni army spokesman, Majed al-Nazili, said in a social media post at dawn on Thursday, October 8, that forces had taken 1,860 Houthis out of the battle and carried out 2,103 “precise targeting operations” as part of the “Yemen Dawn” campaign, destroying hundreds of vehicles and weapons, according to Al Jazeera, Outlook India and Roya News. The army did not give a breakdown of dead and wounded, and the Houthis did not comment immediately.

The tally announced on Monday was 1,747 in 1,122 operations, meaning the two figures rose by about 6.5% and 87% in three days. The government says it has taken strategic mountain positions in western Taiz overlooking the coast, according to Al Jazeera. All of this is claims that no independent source has verified.

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Aviation · Saudi ArabiaPress ✓ 6 outlets · Cirium figures are a snapshot at 4:30 pm

About 45% of departures from Riyadh airport were cancelled or did not take off, and Lufthansa suspends its flights until October 16

Khaleej Times, citing Cirium data, said 169 of 378 scheduled departures from King Khalid International Airport on Thursday, October 8, about 44.7%, were cancelled or did not take off, in a snapshot taken at 4:30 pm local time. Saudi Arabian Airlines cancelled 97 of 140 departures (69%), flynas 30 of 91, flyadeal 20 of 54, and Riyadh Air 2 of 15.

Reuters said the Lufthansa Group will suspend its flights to Riyadh until October 16, and that Air India cancelled all its flights to and from the Saudi capital until October 10, and IndiGo until October 9, while accounts differed on how long Akasa’s cancellation would last. Oman Observer reported that all four Turkish Airlines flights scheduled from Riyadh were cancelled. Aerotelegraph reported that a Saudi Arabian Airlines A320 was hit at the gate; the authorities have not confirmed this, and we do not know whether the cause was a direct hit or interception fragments.

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Markets · TadawulPress ✓ 3 sources · Reuters via Business Recorder, Zawya and Trading Economics

TASI falls 1.57% to 10,376 points, its biggest daily drop since March, and posts a sixth weekly loss

TASI closed on Thursday, October 8, at 10,376 points, down about 166 points, or 1.57%, its biggest daily fall since March, ending a sixth straight week of losses, according to Reuters via Business Recorder, Zawya and Trading Economics. Saudi National Bank, the kingdom’s largest bank by assets, lost 3.1%.

Other Gulf markets also fell: Abu Dhabi 1.6%, Dubai 1.7% and Qatar 2.2% to its lowest level since June 2020, according to Reuters. Analysts linked the fall to the wider war and to attacks on “tankers” in the Strait of Hormuz that peaked in wartime. The airport attacks may be a factor, but we have no evidence that separates out their effect. In America the S&P 500 closed down 0.47% at 7,765.36 and gold rose 0.20% to $4,157.0.

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In brief
  • TASI falls 1.57% to 10,376 and posts a sixth weekly lossBusiness Recorder, Zawya
  • West Texas Intermediate at $91.50 (+3.6%) and gold at $4,157.0 (+0.20%)Closing data
  • S&P 500 closed at 7,765.36 points, down 0.47%Closing data
  • Houthis issue a “final warning” to airlines over Saudi airspaceAssociated Press
  • Saudi Arabian Airlines cancels 97 of 140 departures from Riyadh on ThursdayKhaleej Times
  • Yemeni army: 2,103 operations and 1,860 “taken out of the battle”Al Jazeera
  • “Riyadh Season” begins on October 21Gulf News
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Unverified — what we could not confirm

“A Saudi Arabian Airlines A320 was destroyed at Riyadh airport.” Circulated by aviation sites with photos, and the Associated Press and Aerotelegraph reported it was hit. The General Authority of Civil Aviation has confirmed neither this nor the cause of the damage, so we treat it as unconfirmed.
“A Houthi missile struck King Khalid Airport precisely.” A Houthi claim. The coalition said it intercepted and destroyed two ballistic missiles toward Riyadh, and Saudi authorities have not confirmed the extent of the damage.
“The Yemeni army killed 1,860 Houthis.” A headline run by Roya News framed it as killing, while Al Jazeera relayed “taken out of the battle” with no breakdown of dead and wounded, and there is no independent verification.
Glossary · dotted words — economic, security and political terms explained in the context of the story. The list grows every day.
INSIDEHouthis announce missile strike on King Khalid Airport and warn airlines; coalition says it intercepted two missilesSaudi Arabia · SecurityWest Texas Intermediate jumps 3.6% to $91.50 after the airport attacks, and Brent near $104Oil · MarketsYemeni army: 1,860 Houthis “taken out of the battle” in 2,103 operations, up from 1,747 in 1,122Yemen · SecurityAbout 45% of departures from Riyadh airport were cancelled or did not take off, and Lufthansa suspends its flights until October 16Aviation · Saudi ArabiaTASI falls 1.57% to 10,376 points, its biggest daily drop since March, and posts a sixth weekly lossMarkets · Tadawul