10,376TASI · Thursday, 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%10/9S&P 5007,811.54▲0.59%10/9WTI$91.85▲0.39%10/9Gold$4,216.30▲1.43%10/9
Saudi Arabia · SecurityPress ✓ 5 outlets · figures from the General Authority of Civil Aviation · Houthi claims attributed to them

King Khalid airport reopens; three Saudis killed, among them a Saudia pilot; coalition destroys three launch platforms

The civil aviation authority said operations at Riyadh airport returned to normal on Friday, after Thursday’s strikes hit facilities and an aircraft. The coalition vowed a firm response.

The General Authority of Civil Aviation said on Friday, October 9, that King Khalid International Airport in Riyadh had reopened and that operations and air traffic had returned to normal, after the attacks that targeted it on Thursday, according to Al Jazeera and CNBC. The authority said the strikes hit facilities at the airport and a Saudia aircraft, and that three Saudis were killed.

Saudia said in a separate statement that Captain Hamoud Ali al-Qalthami, one of its pilots, was killed in the strikes. The Houthis claimed responsibility for the attacks, and hundreds of flights were cancelled on Thursday, according to CNBC. We have seen no details on where the three victims were or on the extent of the damage.

The spokesman for the Saudi-led coalition, Major General Turki al-Maliki, said the coalition had confirmed the destruction of three missile launch platforms used by the group, and that the Houthis’ attacks on civilians and civilian infrastructure “will be met with a firm response”, according to Reuters, The National and Saudi Gazette.

In DailyDrop’s reading, the quick reopening says life goes on, but repeated attacks on the airport within a single week mean interception alone is not enough. Today, Saturday, we are watching: the stability of air traffic, the coalition’s response, the decisions of foreign carriers, and any new attacks.

Open the story and DailyDrop’s take
By the numbers
3Saudis killed, according to the General Authority of Civil Aviation
3missile launch platforms destroyed by the coalition, according to its statement
1Saudi pilot among the dead: Captain Hamoud Ali al-Qalthami
Oil · MarketsPress ✓ 3 sources · Brent from Yahoo Finance and Investing.com

Brent closes near $104.72 and West Texas Intermediate at $91.85

West Texas Intermediate closed on Friday, October 9, at $91.85, up 0.39%, according to closing data. Data from Yahoo Finance and Investing.com showed Brent closing at $104.72, while other intraday figures vary between $102.78 and $104.43.

The prices come after Thursday’s jump. Reports linked the price level to attacks on tankers in Hormuz and a storm in the Gulf, while OilPrice said markets are following Washington’s decision to postpone strikes on Iran. We found no explanation confirmed by two sources for today’s move.

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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 ✓ 3 outlets · speech delivered Thursday, October 8 and published after yesterday’s issue closed

Abdul-Malik al-Houthi says his group can sustain a long conflict and warns Pakistan and Turkey against getting involved

The Houthi leader Abdul-Malik al-Houthi said in a televised speech on Thursday, October 8, that his group has the capabilities and the resolve to endure a long conflict, warning Saudi Arabia against continuing its military campaign in Yemen, according to CNN and Middle East Monitor. This came as the group escalated its attacks on Saudi airports and military installations for the third day running.

He expressed hope that Pakistan and Turkey would not help Saudi Arabia, according to Middle East Monitor, after the three countries agreed to deploy forces quickly under the Mecca Joint Defence Agreement. This is a speech by a party to the conflict, and it does not mean the group can actually hold out for long; we simply report what he said.

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Iran · United StatesPress ✓ 2 sources · we have not seen the text of the statement

Trump speaks of “productive discussions” with Iran and postpones strikes ahead of the midterm elections

Trading Economics and OilPrice said President Trump described the discussions with Iran as “productive” and that Washington will postpone strikes before the midterm elections. We have not seen the text of the statement or any detail of the talks, and we found no Iranian confirmation.

In DailyDrop’s reading, the postponement means US military pressure on Iran is deferred rather than cancelled, and that the war on the Saudi–Yemeni front may be read in Washington separately from the Tehran track. This is an inference we have nothing to prove.

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Markets · TadawulPress ✓ 3 sources · figures from closing reports

Saudi market on holiday after sixth losing week: 10,376 points against 10,393 a week earlier

TASI ended the week’s trading on Thursday, October 8, at 10,376 points, after 10,393 the previous Thursday, October 1, a slight weekly loss of about 0.16%, according to Argaam and Trading Economics. The week’s closes were: 10,505.84 on Sunday, 10,480 on Monday, 10,590 on Tuesday and 10,542 on Wednesday, before Thursday’s 1.57% drop, according to Reuters.

The market is closed on Friday and Saturday and opens on Sunday, October 11. Other Gulf markets fell on Thursday: Abu Dhabi 1.6%, Dubai 1.7% and Qatar 2.2%, to its lowest level since June 2020. We cannot predict Sunday’s open, and we note that current prices do not yet reflect any news after Thursday’s close.

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In brief
  • The S&P 500 closed at 7,811.54 points, up 0.59%Closing data
  • Gold jumps 1.43% to $4,216.3 and West Texas Intermediate $91.85 (+0.39%)Closing data
  • Brent closes at $104.72, according to Yahoo Finance and Investing.com dataYahoo Finance, Investing.com
  • Saudia announces the death of Captain Hamoud Ali al-QalthamiAl Jazeera, CNBC
  • Coalition confirms destruction of three launch platforms and vows a firm responseReuters, The National
  • Lufthansa suspends its flights to Riyadh until October 16Reuters
  • Riyadh Season starts on October 21Gulf News
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Unverified — what we could not confirm

“A Saudi aircraft was completely destroyed in Thursday’s strikes.” The General Authority of Civil Aviation said the strikes hit a Saudia aircraft and facilities at the airport without describing the extent of the damage, so we treat “completely destroyed” as unconfirmed.
“The Houthis disrupted air navigation in Riyadh.” A Houthi claim announced by Yahya Saree. The authority confirmed that flights were disrupted on Thursday but said operations returned to normal on Friday.
“Productive discussions between Washington and Tehran.” A description Trading Economics attributes to Trump; we found no Iranian confirmation and no details, so we treat it as an unconfirmed claim.
Glossary · dotted words — economic, security and political terms explained in the context of the story. The list grows every day.
INSIDEKing Khalid airport reopens; three Saudis killed, among them a Saudia pilot; coalition destroys three launch platformsSaudi Arabia · SecurityBrent closes near $104.72 and West Texas Intermediate at $91.85Oil · MarketsAbdul-Malik al-Houthi says his group can sustain a long conflict and warns Pakistan and Turkey against getting involvedYemen · SecurityTrump speaks of “productive discussions” with Iran and postpones strikes ahead of the midterm electionsIran · United StatesSaudi market on holiday after sixth losing week: 10,376 points against 10,393 a week earlierMarkets · Tadawul