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Zero Hedge — Houthis Say It’s Not Over – Saudi Oil “Still Within Range”; Iraq Denies Its Territory Used

Summary:
While US officials were quick out of the gate to allege an Iranian attack on Saudi Aramco facilities launched from Iraq early Saturday, a theory which the WSJ said was focus of an ongoing US-Saudi investigation, Iraq's government issued a firm denial on Sunday, which followed Iran's own denial that condemned Washington's "maximum lies".... But crucially the Houthis have defiantly announced it's not over: "The rebel group said its weapons could reach anywhere in Saudi Arabia. Saturday’s strikes were carried out by aircraft equipped with a new type of engine, the Houthi rebel group said," Bloomberg reports. Whatever the source this is not only a catastrophe for the Saudi leadership that began a war of choice with Yemen, but also the US military-industrial complex whose best weapons

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While US officials were quick out of the gate to allege an Iranian attack on Saudi Aramco facilities launched from Iraq early Saturday, a theory which the WSJ said was focus of an ongoing US-Saudi investigation, Iraq's government issued a firm denial on Sunday, which followed Iran's own denial that condemned Washington's "maximum lies"....
But crucially the Houthis have defiantly announced it's not over: "The rebel group said its weapons could reach anywhere in Saudi Arabia. Saturday’s strikes were carried out by aircraft equipped with a new type of engine, the Houthi rebel group said," Bloomberg reports.
Whatever the source this is not only a catastrophe for the Saudi leadership that began a war of choice with Yemen, but also the US military-industrial complex whose best weapons acquired in volume still could not counter an asymmetrical attack that cost very little in terms of criteria militaries use to measure investment and return.

Zero Hedge
Houthis Say It's Not Over - Saudi Oil "Still Within Range"; Iraq Denies Its Territory Used
Tyler Durden

See also

Moon of Alabama
Damage At Saudi Oil Plant Points To Well Targeted Swarm Attack

My own view: This is a shot across the bow.

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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