Drone Attack on Egyptian Port Sparks Tensions as US and Saudi Arabia Strike Iraqi Militias

A series of explosions occurred at an Egyptian Mediterranean port on July 29, causing a fire that spread to another vessel. According to British maritime security company Ambrey, a U.S.-owned floating storage tanker was hit by a drone in the port of Damietta.

The crew were evacuated and the fire had been brought under control. The incident has raised concerns about the potential escalation of the Middle East conflict.

In related news, the United States and Saudi Arabia launched joint airstrikes on Iran-backed paramilitary groups in Iraq earlier that day, resulting in reported casualties and widespread condemnation from Iraqi officials.

The attacks marked a significant development in the ongoing war, with Brent crude futures rising over 8% to reach above $90 a barrel following the news.