Updated

Oil prices fell as additional Saudi crude supplies helped ease concerns about disruptions, even as fresh Houthi strikes raised fresh security risks. Saudi Arabia is pushing to export more oil through the Strait of Hormuz after its East-West pipeline was shut down, making the kingdom's alternative export routes increasingly important to global supply. The Trump administration advanced a $24.3 billion fighter jet sale to Saudi Arabia as Iran-backed Houthi forces escalate attacks and seek control of the strategically vital Bab el-Mandeb Strait, underscoring the deepening U.S.-Saudi security relationship amid the regional standoff. Analysts at Standard Chartered said they now see a higher floor for oil prices as the Hormuz crisis spreads to Saudi Arabia's export routes, warning that further disruption risk is being priced into the market even as near-term supply eases. The combination of expanded Saudi output, U.S. arms sales, and continued Houthi attacks highlights how the standoff is broadening beyond the strait itself into a wider regional security and market issue.