Brent crude futures rose to $100/bbl, the highest since May, after Yemen’s Houthi militia said it attacked two Saudi oil tankers in the Red Sea, escalating regional tensions and raising the risk of further supply disruption. The Houthi strikes open a new front; shipping through the Strait of Hormuz had already been strained by US‑Iran clashes and, since the conflict began, the Bab el‑Mandeb has become a critical oil export route. Both the US and Iran have downplayed prospects for peace talks, in

Brent crude futures rose to $100/bbl, the highest since May, after Yemen’s Houthi militia said it attacked two Saudi oil tankers in the Red Sea, escalating regional tensions and raising the risk of further supply disruption. The Houthi strikes open a new front; shipping through the Strait of Hormuz had already been strained by US‑Iran clashes and, since the conflict began, the Bab el‑Mandeb has become a critical oil export route. Both the US and Iran have downplayed prospects for peace talks, increasing the risk of prolonged hostilities.