RIYADH, March 27 (Reuters) - Yemen's Houthi group said on Saturday it was suspending missile and drone strikes on Saudi Arabia for three days, in a peace initiative it said could be a lasting commitment if the Saudi-led coalition fighting in Yemen stopped air strikes and lifted port restrictions.

The group also announced a three-day suspension of ground offensive operations in Yemen, including in the gas-producing region of Marib, said Mahdi al-Mashat, the head of the Houthis' political office, in a speech broadcast on television.

"This is a sincere invitation and practical steps to rebuild trust and take all the sides from the arena of talks to the arena of acts," Mashat said.

The unilateral initiative came as the war between the Iran-aligned group and the Saudi-led coalition entered its eighth year, and violence has worsened over recent months. The conflict has killed tens of thousands of people, mostly civilians, and left millions facing starvation and disease.

The Saudi-led coalition pounded the Houthi-controlled sea ports of Hodeidah and Salif with air strikes on Saturday, a day after the group launched broad attacks on Saudi Arabia, including on an oil facility in Jeddah, causing a huge fire that sent up a big plume of black smoke.

Crude prices rose more than 1% to over $120 a barrel on Friday, following the Jeddah attacks.