New risk for US consumers as Iran-backed attacks threaten a second major oil chokepoint

Iran-backed Houthi rebels struck Saudi Arabia with dozens of ballistic missiles and drones Tuesday, hitting multiple energy targets, including the facilities of the world's largest oil company.

The attacks on Aramco, the state-owned national oil company of Saudi Arabia that produces 10 million barrels of oil per day, threaten to tighten pressure on a second critical oil route as the Middle East war continues to restrict shipping through the Strait of Hormuz.

Aramco notably supplies roughly 10% of the world's total oil demand.