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US Strikes Oil Tanker in Strait of Hormuz as Brent Crude Surpasses $100 Amid Rising Middle East Tensions
Brent crude oil prices surged above $100 per barrel after attacks on Saudi oil tankers in the Red Sea, claimed by Iran-backed Houthis, raised fears of new US-Iran conflict fronts.
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What happened
- 01Brent crude oil prices surpassed $100 per barrel following attacks on Saudi tankers in the Red Sea.
- 02Iran-backed Houthis claimed responsibility for the attacks, imposing a maritime blockade on Saudi vessels.
- 03US conducted its 12th consecutive day of airstrikes inside Iran in response to threats against shipping.
- 04Shipping through the Strait of Hormuz and Bab el-Mandeb Strait dropped by over 30%, disrupting oil exports.
- 05Saudi Arabia maximized East-West pipeline capacity to bypass Strait of Hormuz disruptions.
- 06Complete closure of Bab el-Mandeb would force use of Suez Canal, which limits large tanker transit.
The US responded with airstrikes inside Iran, escalating tensions that disrupted critical shipping routes through the Strait of Hormuz and Bab el-Mandeb Strait, threatening global oil supply.
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