Houthi Attacks Push Oil Prices to $100 as Iran Tensions Escalate

The escalating hostilities in the Middle East have pushed oil prices to nearly $100 per barrel. The Houthi militia, backed by Iran, has struck Saudi energy infrastructure, resulting in 73 civilian injuries, including women and children. Secretary of State Marco Rubio believes that 'some of this is clearly the Iranian hand' behind the attacks.

The Trump administration is closely tracking developments, with Treasury Secretary Scott Bessent announcing new sanctions on the Iranian aviation industry. The U.S. Treasury warned that anyone doing business with Iran's remaining airlines risks being cut off from the global financial system.

Iranian Foreign Minister Abbas Araghchi dismissed the new sanctions as ineffective, calling them 'novel' but ultimately unsuccessful in achieving their aims.