Tensions in the Middle East drove global markets again on Thursday, as missile strikes reached Saudi Arabia’s capital and Washington handed its Gulf naval force a rare combat honor. Here are the day’s top stories.
Houthi Missile Barrage Hits Riyadh, Airspace Closed
Houthi missile attacks spread beyond airports and reached Saudi Arabia’s capital, forcing the closure of airspace over Riyadh. Reports say strikes killed at least three people near Abha and Riyadh airports over the past two days. The escalation pushed oil prices sharply higher.
Syria Denies Saudi Arabia Asked for Military Help Against the Houthis
The media adviser to Syria’s president, Ahmad Zaidan, denied that Saudi Arabia asked Syria to deploy forces against the Houthis. The denial counters earlier reports that Syria was considering military assistance for its Saudi ally. The story remains considered but unconfirmed.
US Awards Gulf Carrier Crew Top Combat Honor
Defense Secretary Hegseth visited the USS Abraham Lincoln and awarded the crew the Presidential Unit Citation, a honor usually reserved for significant combat achievement. It was given for 40 days of combat operations and what the Pentagon called an “ironclad maritime blockade” against Iran in support of Operation Epic Fury. The move signals a deepening US war posture, even as Trump told a rally that “that war ends — it’s going to be very soon.”
Crypto Slides as ETF Outflows Hit the Largest Since June
Bitcoin tested the $82,000 support level, trading between roughly $82,317 and $84,340 during the day, while Ethereum held near $2,560 to $2,620. US spot Bitcoin ETFs saw their biggest outflows since June on October 7, with reported figures ranging from about $213 million to $487 million depending on the source. The RWA sector led 24-hour losses at about 6.73%, while the Fear and Greed Index stood at 60. No new China–UK or China–USA tariff moves were reported, and the second day of the China–EU trade round in Beijing produced no verified outcome.
Market snapshot: Brent crude rose to $105.20 per barrel, its highest since September 9, and WTI reached $92.75, its highest since October 2, as hurricane Isaias shut in about a quarter of Gulf of Mexico output and Middle East tensions added a war-risk premium. Investors now look to October 14 CPI data and the October 28 Fed meeting as the next catalysts.