Houthis Warn Saudi Aramco Facilities Will Be ‘Legitimate Targets’

A direct evacuation warning aimed at a national oil company's workforce is a step beyond the usual rhetorical threats, and it puts the physical security of Aramco's infrastructure back at the center of risk pricing for crude. The immediate read-through is to shipping and insurance costs around Saudi export terminals, and to the wider question of whether Houthi messaging translates into actual disruption. Whether the warning is followed by any physical action, and how the kingdom's air defenses and insurers respond, is the open question.