In response, the Saudi-led coalition has closed all Yemen's land, sea and air ports after missile targeted Riyadh.
This is what I wrote in the June 21, 2017 EPJ Daily Alert:
Overnight, Saudi's King Salman unveiled his decision to relieve 57-year old Interior Minister Muhammad bin Nayef of his position as crown prince in favor of his 31-year old son, Deputy Crown Prince and Defense Minister Mohammad bin Salman.
This could be significant for the oil price going into 2018.
Bin Salman, known as MbS, has a reputation for interacting in an impulsive and often abrasive manner, particularly with regards to international relations. It is believed that he is largely responsible for the aggressive military action the Kingdom is conducting against Yemen.
He also sees Iran as a major enemy.
He is also the main driver putting forward the plan to take Aramaco public next year.
More than anyone else, Mbs wants the oil price higher going into 2018. And more than anyone else, he is in a position to do something about it and has the aggressive personality to do whatever it takes. I am not ruling anything out that he might try.
The Yemen escalation comes on top of the consolidation of power over the weekend by the Crown Prince and the shock resignation of Lebanon's Prime Minister Saad al-Hariri.
The events suggest the first moves in a major Saudi escalation of interference in the Middle East.