… Saudi warplanes pounded Yemen and Houthi fighters launched drones and missiles at Saudi cities, the Iran-backed movement said on Wednesday, after a lightning advance that has extended Tehran’s reach in the Middle East war. …
… Iran-backed Houthi forces in Yemen launched fresh attacks on Saudi Arabia on Monday, while Gulf Arab states postponed planned discussions with Iran, fuelling concerns that the Middle East conflict could widen and disrupt global oil supplies. …
… Pressure is mounting on alternative channels for Gulf oil exports, with Iran-aligned Houthi militants stepping up strikes against Saudi Arabia, threatening crude shipments via the Red Sea. …
Oil prices rose past $100 (£74) a barrel on Wednesday after further strikes in the US and Iran conflict and continuing Houthi attacks in Saudi Arabia. …
… Iran-aligned Houthi militants in Yemen declared a naval blockade last week on Saudi Arabia, threatening the Red Sea route for its oil exports, an alternative to the Strait of Hormuz. …
… The new surge in prices comes after Tehran-backed Houthi rebels claimed attacks on two Saudi oil tankers in the Red Sea, following their announcement of a naval blockade on the kingdom. …
… Trump also threatened to “take care of” the Houthi rebels if the Iran-backed militant group in Yemen followed through on its threatened blockade of Saudi ports. …
Oil prices rose on Friday after the U.S. and Iran stepped up attacks across the Gulf, with their broken truce limiting oil flows out of the Strait of Hormuz and with Tehran asking the Houthi political and military organisation to stand ready to shut the Red Sea export route. …
… export flows would likely trigger another leg higher in oil prices,” said Phillip Nova analyst Priyanka Sachdeva. “Conversely, if barrels continue to move despite the military escalation, part of the current geopolitical premium could gradually fade.” Elsewhere, Yemen’s Houthi …
Brent crude and U.S. West Texas Intermediate futures declined on Thursday as reports that Saudi Arabia is offering extra crude cargoes through Oman eased concerns over supply disruptions following attacks on Saudi Arabia's East-West pipeline to the Red Sea.
Brent crude and U.S. West Texas Intermediate futures declined on Thursday as reports that Saudi Arabia is offering extra crude cargoes through Oman eased concerns over supply disruptions following attacks on Saudi Arabia's East-West pipeline to the Red Sea.
Brent crude futures rose 1.3% to $107.05 a barrel and U.S. West Texas Intermediate futures rose 1.51% to $102.92 a barrel as attacks on Saudi Arabian energy infrastructure left the East-West pipeline offline and Iran-backed Houthi forces launched fresh attacks on Saudi military targets.
Brent crude futures held firm at $101.10 a barrel as Iran and the U.S. launched their largest attacks on shipping in their six-month-old conflict, with traders bracing for deeper supply disruptions. Oil flows through the Strait of Hormuz remain far below pre-war levels, and Brent prices have surged nearly 30% from early August lows as a permanent ceasefire agreement failed to materialize.
Brent crude climbed past $100 a barrel on Wednesday, driven by fresh US-Iran strikes and continuing Houthi attacks on Saudi facilities and Red Sea tankers. The price reflects the highest level since the Iran-US ceasefire collapsed in late July.
Brent crude fell $1.03 to $88 a barrel and U.S. WTI slipped $1.50 to $82.09 on Friday, despite rising Middle East tensions, as increased supplies flowed through the Strait of Hormuz and other maritime chokepoints. Both benchmarks are set to rise about 20% for the month.
Brent crude fell 1.42% to $89.45 a barrel and U.S. WTI crude fell 0.66% to $83.90 a barrel on Thursday as tankers continued to move out of the Middle East despite escalating U.S.-Iran tensions. Shipping data showed 39 commodity ships passed through the Bab el-Mandeb strait into the Red Sea on Tuesday, the highest number since July 19, as traders found alternative routes around the largely blocked Strait of Hormuz.
Brent crude oil rose more than 6% to over $100 per barrel on Thursday, its highest level in eight weeks, after Tehran-backed Houthi rebels claimed attacks on two Saudi oil tankers in the Red Sea and announced a naval blockade on the kingdom. The price surge reflects concerns over disruption to global supplies, as millions of barrels per day pass through the Bab el-Mandeb strait to reach global markets.
President Trump threatened that the US would destroy Iranian bridges or power plants, including targets near Tehran, if attacks on ships in the Strait of Hormuz continue. The threat follows US strikes on Iran for the 11th consecutive night, with Iranian air defences activated and explosions reported in several cities including Tabriz, Chabahar, Konarak, and Bushehr.
Brent crude rose 0.83% to $84.93 a barrel and WTI rose 1.03% to $79.76 a barrel on Friday as US-Iran hostilities escalated and Tehran asked the Houthis to prepare to shut the Red Sea export route, with both benchmarks climbing nearly 12% for the week.
Oil prices rose nearly 3% on Tuesday to their highest in four weeks after the U.S. reimposed a naval blockade of Iran while the two countries stepped up attacks in the Strait of Hormuz, with Brent crude reaching $84.80 per barrel and U.S. West Texas Intermediate rising to $79.84. The escalation has injected fresh risk and uncertainty into energy markets.