Houthis target Saudi Arabia as oil at $106 hits Morocco
Egypt is urging a political solution between Saudi Arabia and the Houthis, as the escalation pushes Brent crude to $106 and weighs on Morocco's fuel bill.
Egyptian Foreign Minister Badr Abdelatty said on Thursday that Cairo is exploring every option to reach a political solution between Saudi Arabia and the Houthi movement, affirming Egypt's full solidarity with Riyadh and calling for a complete Houthi withdrawal from territory the group recently seized. The statement comes amid renewed military escalation between the Saudi-led coalition and the Iran-backed Houthis, a crisis that has pushed up global oil prices and is feeding directly into Morocco's energy bill.
Background: the Houthi-Saudi escalation
Fighting between the Arab coalition and the Houthis resumed in July 2026 after the collapse of a truce that had held in Yemen since 2022. In September, the group launched a broad offensive and seized Red Sea coastal areas previously held by Yemen's internationally recognized government, before declaring a naval blockade of Saudi Arabia, the world's largest crude exporter, and beginning to target Saudi ships, territory and oil facilities. The BBC reported that the Ansar Allah Houthi movement said on Thursday it had targeted the Saudi Ministry of Defense in Riyadh, a claim Saudi authorities had not confirmed at time of writing. Earlier, in early October, the group had claimed a missile and drone attack on an Aramco facility south of Riyadh, as the escalation entered its fourth month.
Oil prices climb globally
The escalation rippled through global oil markets: Brent crude traded near $106 a barrel in mid-October, driven by fears of supply disruption from the Houthi-Saudi tensions as well as shipping disruptions through the Strait of Hormuz.
What does this mean for Morocco?
Morocco imports most of its energy needs from abroad, which ties its domestic fuel market directly to swings in global oil prices. Diesel prices saw a series of consecutive increases from mid-July, before falling 20 centimes from October 16 to settle around 15.61 dirhams a liter, while gasoline stayed roughly stable around 15.33 dirhams. According to Morocco's Competition Council, the kingdom's fuel-price review mechanism factors in global oil price levels and geopolitical tensions, including the Strait of Hormuz crisis, meaning the next review, expected in early November, will remain hostage to how the Gulf and Red Sea escalation unfolds.