Oil hits $100 a barrel for first time since July after US and Houthi strikes

Brent crude oil prices surpassed $100 a barrel for the first time since July, influenced by escalating tensions in the Middle East. On Tuesday, the United States struck five Iranian tankers, which US Secretary of State Marco Rubio stated was a response to Iran's attempts to target US naval ships. This action followed Iran's Navy announcing the seizure of an uncrewed US submarine in the Strait of Hormuz, which the US described as malfunctioning. Concurrently, Saudi Arabia and the Iran-backed Houthi group in Yemen have engaged in retaliatory attacks. The Houthis accused Saudi Arabia of bombing a prison, while Saudi authorities reported that Houthi drone and missile attacks on southern Saudi cities injured 73 civilians.

The US military announced it destroyed several Iranian tankers in the Gulf of Oman and near Kharg Island after Iran attempted to strike a US Navy warship with ballistic missiles. US Central Command stated American forces directed crews to abandon ship before the vessels were struck. These actions followed two missile attacks by Iran's Revolutionary Guard Corps on a US warship, which evaded the strikes. In retaliation, Iran claimed to have struck a US military base in Jordan, though Jordan reported most missiles were intercepted with no casualties. The exchanges have escalated regional tensions and pushed oil prices above $100 a barrel.

Iran has stated that the era of proportionate retaliation is over following a US strike on three Iranian crude oil tankers near Kharg Island and in the Gulf of Oman. The US Central Command released video of the strikes, stating two tankers were permanently disabled and one sank. Iran's Islamic Revolutionary Guard Corps (IRGC) responded by airing video of projectiles hitting multiple ships in the Strait of Hormuz and claimed to have fired ballistic missiles towards a US aircraft carrier and warship, though the US stated these attacks were evaded. Iranian officials condemned the US attacks as illegal and a war crime. The article notes differing accounts on the impact of the US-imposed naval blockade on oil transit through the Strait of Hormuz, with Iran asserting the strait remains closed while the US claims increased vessel traffic.

The United States and Iran have engaged in escalating attacks on tankers in the Strait of Hormuz, a strategic waterway. In recent exchanges, US forces struck three Iranian oil tankers, with one targeted near Kharg Island, a major oil export hub. These actions followed Iranian ballistic missile launches aimed at a US aircraft carrier and destroyer, which the US reported successfully evaded. The US stated its strikes were in response to Iran's actions and aimed to impose economic costs. Iran claimed its missile attacks were in retaliation for the US naval blockade of its ports and for "harassing Iranian ships." Both nations are attempting to exert control over the strait, with Iran using it as leverage and the US seeking to reopen the waterway. These conflicts are disrupting energy supplies and impacting global economic growth.

Iran's Islamic Revolutionary Guard Corps (IRGC) stated on Sunday that its forces attacked a US naval drone attempting to enter the Strait of Hormuz. This action followed earlier IRGC naval operations that targeted three oil tankers and three other vessels in response to American strikes on three oil tankers. These clashes, which began with US raids last week, occur amidst a six-month war where Iran maintains control of the Strait of Hormuz and the US enforces a counter-blockade of Iranian ports. The US is also implementing sanctions aimed at Iran's economy.

The US military announced it struck three Iranian oil tankers on Saturday after US warships patrolling the region were targeted by multiple unprovoked Iranian missile attacks. US aircraft carrier and destroyer successfully avoided the attacks, with no US personnel injured. The Pentagon stated two tankers were permanently disabled and a third, unladen tanker, was destroyed, asserting these vessels were part of a network financing Iran's Revolutionary Guards and proxy groups. US Central Command warned it would "destroy Iran’s limited and exposed oil fleet" if necessary. The strikes occurred off Kharg Island and near Jask, with one tanker hit in the Gulf of Oman, and follow a period of renewed strikes after a month of relative calm.

The United States military struck three Iranian oil tankers in the Gulf of Oman and near Iran's Kharg island. This action followed an incident where Iran's Islamic Revolutionary Guard Corps (IRGC) launched ballistic missiles at two US Navy warships patrolling regional waters. US Central Command (CENTCOM) stated that the strikes disabled two tankers and destroyed a third, asserting these vessels were part of a network financing the IRGC and its "regional proxies." CENTCOM commander Admiral Brad Cooper conveyed that the strikes aimed to impose economic costs on Iran for attacking US ships and to defend American forces. The article notes that no personnel were injured in the missile attacks on the warships. These events occur amidst ongoing conflict and collapsed negotiations between the US and Iran.

The US military, through US Central Command (Centcom), has struck three Iranian oil tankers in response to ballistic missile launches targeting two of its Navy warships. Centcom stated it "permanently disabled" two tankers near Kharg Island and the Strait of Hormuz, and "completely destroyed" a third in the Gulf of Oman. These actions followed Iran's alleged attacks on a US aircraft carrier and guided-missile destroyer, which Centcom reported were successfully evaded without harm to American troops. Centcom's commander emphasized that the strikes were a direct response to the attacks on US ships, aiming to impose economic costs on Iran's oil fleet, which Centcom claims funds the IRGC and its proxies.