Oil Prices Hit $100 a Barrel After Attacks in Red Sea: Iran War Live Updates

Key Points:

• The conflict in the Middle East has intensified with the Houthis, an Iran-backed group in Yemen, targeting Saudi oil tankers in the Red Sea, threatening a new choke point for global shipping and potentially cutting off about 4% of the world’s oil supply.
• The U.S. has responded with military strikes against Iranian targets to degrade threats to commercial shipping, while Iran’s Revolutionary Guards claimed attacks on U.S. military sites in Jordan and Kuwait, escalating regional tensions.
• Oil prices have surged nearly 40% since the war began in February, with Brent crude and U.S. oil prices rising due to disruptions in shipping routes and refinery capacities, exacerbated by damage to Russian refineries amid the Ukraine conflict.
• President Trump defended the ongoing war with Iran while attending the return of fallen U.S. soldiers, asserting American support for the conflict despite growing public and Republican criticism; he also promised strong retribution for American casualties.
• The fragile cease-fire between Saudi Arabia and the Houthis has collapsed, with recent attacks and blockades in the Red Sea complicating alternative shipping routes and raising fears of a broader regional war that could further destabilize global energy security.